Page 7 - Ease Of Doing Business

Govt revises definition of small cos; reduced compliance burden for firms

The government has revised the paid-up capital and turnover thresholds for small companies that will help reduce the compliance burden on more entities. The latest decision by the corporate affairs ministry, which is implementing the companies law, has again revised the definition of small companies and is aimed at further improving the ease of doing business. With the amendments to certain rules, the threshold for small companies' paid-up capital has been increased to "not exceeding Rs 4 crore" from "not exceeding Rs 2 crore". Similarly, the turnover threshold has been revised to "not exceeding Rs 40 crore" from "not exceeding Rs 20 crore", the ministry said in a release on Friday. The revisions will allow more entities to come under the category of small companies. According to the ministry, small companies are exempted from the requirement to prepare cash flow statement as part of financial statement and can file an abridged annual return. They will not be required to have the

16 states/ UTs have on-boarded National Single Window System so far: Report

NSWS is a platform for the guidance of investors to identify and apply requirements according to the need of their business

Centre working on enhancing mines sector output in GDP to 2.5% by 2030

The Centre has taken various measures with regard to Ease of Doing Business to increase the contribution of mines and minerals sector towards the country's GDP to 2.5 per cent by 2030, Union Coal, Mines and Parliamentary Affairs Minister Pralhad Joshi said on Friday. He addressed a two-day National Conclave on Mining Ministers here to deliberate on the ambitious target. "The intention of this conclave is that we should in coming years up to 2030, under the guidance of Prime Minister Narendra Modi ji, other than coal and petroleum, add 2.5 per cent to the GDP of the country. Now, other than these two -- coal and petroleum -- it is 0.9 per cent," he told reporters after the inaugural session. The Prime Minister has given the target of 2.5 per cent to be achieved by 2030, he said. "...we want to achieve it before 2030. For that, we have taken lot of measures as far as Ease of Doing Business is concerned and ease of investment is concerned," the Union minister said. Observing that the

Need to boost investor confidence for sustainable, transformative growth

India needs to show investors not only that they can achieve decent returns in the country but that their money is safe here

Investing abroad rules revamped to increase ease

This should help Indian businesses take and manage overseas exposure

Time taken to resolve commercial cases in India down nearly 50%: Report

Even though India's overall ranking in 'Ease of doing business' had improved from 142 in 2014 to 63 in 2020, on the 'enforcement of contracts' it improved marginally from 186 in 2014 to 163 in 2020

DPIIT to hire consultants to work towards ease of doing business

The commerce and industry ministry is planning to hire consultants to study business environment and compliances and suggest steps to promote ease of doing business in the country. The Department for Promotion of Industry and Internal Trade (DPIIT) has invited applications from eligible qualified professionals for engagement as senior consultant and consultant for three years for working in the Ease of Doing Business (EoDB) Reform Secretariat. The secretariat has been established in the DPIIT. Interested candidates can apply online by end of this month. The work responsibilities of these consultants include conducting a detailed analysis of existing acts/rules and their provisions; review and analyze the legal and regulatory frameworks dealing in different jurisdictions in India; and devise an action plan with a focused approach on the reforms required towards improving regulations. Further, the consultants should have "an understanding of the business regulations at the state lev

Ease of justice equally important as ease of doing business, living: PM

Prime Minister Narendra Modi on Saturday said that Ease of justice is equally important as ease of doing business and ease of living

Irdai carrying out series of reforms for ease of doing business: Minister

Irdai has also developed a mechanism to process applications filed for registration of new insurers and for grant of certificate of registration to commence the insurance business in India

2021 start-up ranking: Gujarat, Karnataka emerges as best performers

Top performers among the larger states include Kerala, Maharashtra, Odisha and Telangana

New IT rules likely to impact ease of business in India, says report

Study says proposal to trace origin of a message on social media platforms is technologically unfeasible

Andhra, Gujarat 'top achievers' in govt survey on reforms for business

The latest fifth edition of the Business Reforms Action Plan (BRAP), 2020, by the industry department did not rank states on the ease of doing business measures undertaken by them

Seven states among top achievers in 'ease of doing business' ranking

In the category of emerging business ecosystems, there are 11 states and UTs, including Delhi, Puducherry and Tripura

Seven states among top achievers in 'ease of doing business' ranking

In the category of emerging business ecosystems, there are 11 states and UTs, including Delhi, Puducherry and Tripura

Ease of doing business: UT, states' ranking to be released on Jun 30

The government will release the ranking of states and Union Territories (UTs) in terms of ease of doing business on June 30, the commerce and industry ministry said on Wednesday. Finance Minister Nirmala Sitharaman will release the assessment report of states/UTs under Business Reforms Action Plan (BRAP), 2020 in the presence of Commerce and Industry Minister Piyush Goyal on Thursday, it said. The exercise is aimed at triggering competition among states to improve the business climate to attract domestic and global investors. BRAP 2020 includes 301 reform points that cover 15 business regulatory areas such as access to information, single window system, labour, environment, sectoral reforms and other reforms spanning across the lifecycle of a business. Sectoral reforms have been introduced this time wherein 72 reforms were identified across nine sectors - trade license, healthcare, legal metrology, cinema halls, hospitality, fire NOC (no objection certificate), telecom, movie shoot

Tech-led growth, ease of doing biz, digital transformation tops PM's list

PM Narendra Modi emphasised on technology-led growth, ease of doing business, infrastructure expansion, and digital transformation that, he said, is bringing transformative changes in every sector

Govt eases certain norms under EPCG scheme to promote ease of doing biz

Under the scheme, imports of capital goods are allowed duty free, subject to an export obligation

Ease of doing business: Sitharaman to launch e-Bill processing system

The Finance Minister had announced this major e-governance initiative in the Union Budget 2022-23 presented in Parliament on February 1

Initiate next generation reforms to improve ease of doing biz: FM asks Sebi

The minister's remarks come against the backdrop of the Federal Reserve deciding to tighten its monetary policy after a long period of easy money regime

Telecom Minister urges for deployment of products designed, made in India

Citing better quality and costs, Telecom Minister Ashwini Vaishnaw on Tuesday made an aggressive pitch for adoption of products that are designed and made in India