The Government of India has taken up a series of measures to improve Ease of Doing Business in respect of which Department of Industrial Policy and Promotion(DIPP) had issued a notice dated 11th August, 2015. The emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient and effective.
The broad categories of the measures taken till now can be discussed as under:
- Application for Industrial License on 24X7 basis
- Obtaining PAN and TAN
- Employer and Employee registration with Provident Fund authorities
- Obtaining COI for company start ups
- RBI approval and reporting
- Importer Exporter Code
- Integrated process for Incorporation of Company
- Introduction of Companies (Amendment) Act, 2015 to remove requirements of minimum paid up capital
- Enhancement in the time limit of the validity of the Industrial License
- No requirement for obtaining the certificate for commencement of business and many more like these.
As the above mentioned items have provided a lot of ease to the stakeholders, the Government of India is working on many more items like these to make India as the most preferred destination for doing business.
The document dated 11th August, 2015 as issued by the Department of Industrial Policy and Promotion (DIPP) containing all the measures taken for the ease of doing business can be accessed at the link given below.