Saturday, May 12, 2012 - , 0 comments

Proposed Changes in Norm of Doing Business in Country


As per 9th report entitled ‘Doing Business 2012’, of the World Bank, India’s overall ranking is 132 out of 183 participating countries showing an improvement of 7 points compared with India’s rank in their 2011 report.
                India’s efforts to attract ‘Foreign Direct Investment’ are an ongoing and continuous exercise.  The Government has taken concerted steps to provide investor-friendly environment in the country.  Measures undertaken to improve business environment in the country include e-Governance.  MCA-21, Investment Policy liberalization, Single Window Systems by State Governments, Single window for payment of income tax and corporate tax, ICE-Gate for online filing of custom and exercise documents, Right to Information Act 2005 and Micro, Small and Medium Enterprises Act 2006.  In addition, the Government has initiated the implementation of the eBiz Project, a Mission Mode Project under the National e-Governance Project, to provide an online singlewindow  to investors & businesses for registrations, filing, approvals, clearances etc.  This project aims to create a business and investor friendly ecosystem in India by making all business and investment related regulatory services across Central, State and Local governments available on a single portal, obviating the need for the investor or the business to visit multiple officers or a plethora of websites.

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