Speed up reforms

Nodal Departments have been identified for the reform process to improve India’s ranking in the #World Bank’s report on Ease of Doing Business. The departments agreed to implement the suggested reforms from January, 2017.

The departments will hold intensive stakeholder consultation to get feedback on the reforms undertaken and ensure that the reforms are felt at the ground.

The departments will hold weekly meetings to review the progress for carrying out the necessary reforms.

The major decisions taken during a ministerial meeting held under the chairmanship of Finance Minister Arun Jaitley in New Delhi on 19 Dec 2016.

Their tasks are:

1. eBiz portal shall be mandated for starting a business which shall include three services of Ministry of Corporate Affairs, Registration for PAN and TAN and also for EPFO & ESIC.

2. Ministry of Corporate Affairs, CBDT, Ministry of Labour & Employment will work towards reducing the number of procedures for starting a business to 4 and the number of days to start a business also to 4.

3. Shram Suvidha Portal shall be the only portal for filing returns, challan and making online payment for EPFO & ESIC contributions as well as other filings and payments.

4. Department of Revenue and Ministry of Shipping shall work towards increasing the number of direct delivery consignments to 40 percent by end of this month. The Departments shall also ensure that the cost and time to export and import gets reduced substantially to bring India within top 50 ranks.

5. Ministry of Corporate Affairs shall work with the concerned stakeholders so that the provisions recently enabled under Insolvency and Bankruptcy Code are implemented through NCLT.

6. To further improve the country’s rank in the indicator ‘Getting Credit’, Department of Financial Services and Ministry of Corporate Affairs shall work towards integrating CERSAI database with ROC Registry of Charges to create a single registry of assets.

7. In the indicator ‘Enforcing Contracts’, the Union Commerce and Industry Minister mentioned that country ranks poorly at 172 on this indicator and efforts are required on many reforms to bring the country among the top 50 nations. She also mentioned that the initiative of eCourts should be expedited for electronic filing of complaints, summons and payments especially in the Commercial Courts.

8. On ‘Construction Permit’, Secretary, Ministry of Urban Development mentioned that the procedures shall be brought down to 8 which will be completed within 60 days. However, the Finance Minister desired that the Department should explore the possibility of commencing the construction on architect’s certification and approval being granted only at the time of the occupancy of the building.

The Ministers have called a next review of the progress made on reforms end of January to ensure the implementation within the timeframe agreed upon. fii-news.com