Govt taking steps to improve ease of doing business

Government today said several steps, including reduction in number of documents for foreign trade and online application for environment clearance, have been taken to improve 'ease of doing business' in the country.
"Significant improvements have been made in regulatory environment through deregulation, delicensing and simplification of procedures.
"An action plan has been proposed for improvement in the regulatory environment and improving ease of doing business," Finance Minister Arun Jaitley said in a written reply to the Rajya Sabha.
Initiatives taken for ease of doing business, include reduction of required document for export and import to three, payment of ESIC and EPFO made online with 56 accredited banks and elimination of requirement of 'no objection certificate (NOC)/consent to establish for new electricity connection.

Also, the process of applying for environment and forest clearances has been made online.
India has been ranked 142 among the 189 countries in the latest report of the World Bank, falling two places from last year's ranking. The government is aiming to improve India's ranking within the 50th position.

Jaitley further said the 'Make in India' initiative is targeted towards making the country an important investment destination and a global hub for manufacturing, design and innovation.
The 'Make in India' initiative, he said aims to achieve the objective by creating an investor friendly environment, modern and efficient infrastructure, opening of new sectors to FDI and forging partnership between government and industry through a "positive mindset".

The Finance Minister also said several measures have been taken or are proposed for promotion of manufacturing sector under the initiative.
The measures include simplification of allotment of PAN and TAN cards, and inclusion of corporate identity number (CIN) as a proof of identity.
An additional investment allowance (15 per cent) and additional depreciation has been provided to new manufacturing units set up in notified areas of Andhra Pradesh, Bihar, Telangana and West Bengal during April 2015 and March 2020.
Steps have also been taken on the indirect tax front to promote manufacturing.
Meanwhile, Minister of State for Finance Jayant Sinha said as many as 231 projects, in sector such as coal, civil aviation, mines, petroleum, power and roads, were pending as on April 18 for resolution of issues at different levels, for want of various clearances, land and other issues.

Replying to a question related to large investment proposals, Sinha also said issues related to 217 projects have been resolved.