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To making things easy for doing business in India, Cabinet Secretary P K Sinha today said means not only minimising or quickening the industry's interface with the government and its agencies, but unveiling policy measures to create more business opportunities and an environment that makes investments less risky and more attractive. He was speaking at a session on 'Ease of Doing: The Next Steps' organised by CII. He pointed to several steps being taken by the government to make things simple to do business including the inventive use of PAN card. Here are top 5 key takeaways: (PTI)
1. Government is working on a proposal to make PAN card a unique identity for business entities with a view to improving ease of doing business and ensuring a company is incorporated in a day using an integrated e-business portal. "We are working towards making PAN a unique ID for any business entity that is recognised by all departments…. This would facilitate incorporation of a new company in a single day through an integrated e-biz portal and this is going to be soon a reality," P K Sinha said. (PTI) -
2. Ease of doing business: Dedicated commercial courts have been set up for disposal of commercial disputes and the Insolvency and Bankruptcy law is in the pipeline, he said. (PTI)
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While the date for implementation of GST is still not clear, CBEC has started the process to be totally prepared for the new GST era. (PTI)
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4. Ease of doing business: These processes are not only being made online, but decentralised and delegated to field agencies, Sinha said, citing the recent environment and forest clearances that have got a number of stalled projects moving. (PTI)
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5. Ease of doing business: He said a single window interface for facilitating trade has been launched by the Customs department on April 1. This provides for one integrated declaration representing nine separate forms of six different agencies, besides the provision that trade consignments will be examined on the principle of risk management, which means not all items are to be examined. "A single window will help reduce time and transaction cost, thereby making our goods more competitive," he said. (PTI)
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