World Bank Ease of Doing Biz Test- Officials apprise WB Mission about the initiatives
Updated: Jun 10, 2015 11:34:37am
New Delhi, June 10 (KNN) The Union government is busy making its case before a two member Mission from the World Bank, who are currently in India to collect data and information for Doing Business Report, 2016, likely to be released in October.
The officials from the Department of Industrial Policy and Promotion (DIPP), Ministry of Corporate Affairs (MCA), Department of Economic Affairs (DEA) and Central Board of Direct Taxes (CBDT) met the members of the Mission - Nadine Abi-Chakra and Baria Nabil Daye.
Modi government has set a target to bring India amongst the top 50 countries in the World Bank Ease of Doing Business Rankings in the next few years. In 2015, India slipped two positions to 142 out of 189 countries.
A kick start meeting was convened on Tuesday in DEA, Ministry of Finance in chairmanship of Additional Secretary Ajay Tyagi.
The mission briefed about the objective of their visit and their forthcoming interaction with respondents and government agencies. Tyagi apprised the Mission about the importance given by Government of India to improving regulatory environment across India.
Shailendra Singh, Joint Secretary, DIPP briefed the Mission about the several reforms carried out by the government like - Requirement of minimum paid-up capital for companies removed; Requirement of common seal for companies removed; Requirement of filing declaration of commencement for companies removed and more.
The Mission was also briefed about the single step incorporation of companies through INC-29 Form; Loans or guarantee to fully owned subsidiary company facilitated; Order to facilitate revival and rehabilitation of MSMEs issued; Customs Clearance Facilitation Committees (CCFCs) constituted at ports to facilitate expeditious clearance of goods; and only three documents are required for exports and imports.
The World Bank members appreciated the efforts made by the Government and promised to take note of initiatives taken by Government of India and State Government. (KNN Bureau)
The officials from the Department of Industrial Policy and Promotion (DIPP), Ministry of Corporate Affairs (MCA), Department of Economic Affairs (DEA) and Central Board of Direct Taxes (CBDT) met the members of the Mission - Nadine Abi-Chakra and Baria Nabil Daye.
Modi government has set a target to bring India amongst the top 50 countries in the World Bank Ease of Doing Business Rankings in the next few years. In 2015, India slipped two positions to 142 out of 189 countries.
A kick start meeting was convened on Tuesday in DEA, Ministry of Finance in chairmanship of Additional Secretary Ajay Tyagi.
The mission briefed about the objective of their visit and their forthcoming interaction with respondents and government agencies. Tyagi apprised the Mission about the importance given by Government of India to improving regulatory environment across India.
Shailendra Singh, Joint Secretary, DIPP briefed the Mission about the several reforms carried out by the government like - Requirement of minimum paid-up capital for companies removed; Requirement of common seal for companies removed; Requirement of filing declaration of commencement for companies removed and more.
The Mission was also briefed about the single step incorporation of companies through INC-29 Form; Loans or guarantee to fully owned subsidiary company facilitated; Order to facilitate revival and rehabilitation of MSMEs issued; Customs Clearance Facilitation Committees (CCFCs) constituted at ports to facilitate expeditious clearance of goods; and only three documents are required for exports and imports.
The World Bank members appreciated the efforts made by the Government and promised to take note of initiatives taken by Government of India and State Government. (KNN Bureau)
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