Indian’S Will Be Able to Start Companies in 4 Flat Days Soon (Download PDF)

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The government has identified areas requiring doing away with complex rules. It will simplify procedures to enable businesses to start in four days flat. It is Aiming to break into top 50 best countries to do business. With India ranked poorly at 130th among 190 nations on the World Bank’s Ease of Doing index.

India’s Rank in Doing Business

India’s Rank in Doing Business

India’s Rank in Doing Business

8 Decisions Taken by Country in Improvement of Ranking

  • E-Biz portal shall be mandated for starting a business, shall include three functions of Ministry of Corporate Affairs.
  • Ministry of Corporate Affairs, CBDT, Ministry of Labour & Employment will work towards reducing the number of procedures.
  • Shram Suvidha Portal shall be the only portal for filing the return, challan and making online payment for EPFO & ESIC.
  • Department of Revenue and Ministry of Shipping shall work towards increasing the number of direct delivery consignments to 40 percent.
  • The provisions as recently enabled under Insolvency and Bankruptcy Code are implemented through NCLT.
  • Work towards integrating CERSAI database with Registry of Charges (ROC) to create a single registry of assets.
  • Initiative of e-Courts should be expedited for electronic filing of complaints, summons and payments especially in the Commercial Courts.
  • Department should explore the possibility of commencing the construction on architect’s certification and approval granted only at the time of the occupancy of the building.
WB’s doing business report

WB’s Doing Business Report

WB’s doing business report

About Ease of Doing Business Index

  • It is an index created by the World Bank Group.
  • Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses and stronger protections of property rights.
  • Empirical research funded by the WB to justify their work show that the economic growth impact of improving these regulations is strong.
  • A nation’s ranking on the index is based on the average of 10 sub-indices.

- Published/Last Modified on: December 20, 2016

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