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Major initiatives of Ease of doing businesses in India

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Major initiatives of Ease of doing businesses in India. Find Complete details for  Ease of doing business in India. My this article is about the automation which has been acquired by the new government and the new initiative for the better India. This initiative has been highly been encouraged as our PM is also fond of all the processes to be automated and the process from obtaining the license to the liquidation of the same has been electronised and has been simplified. Ease of businesses means that the work and the time required for the starting up of the firms or companies to be reduced and to be automated to that much level that the owners did not require to stand in line and file many applications rather electronically file the applications. Now check more details about “Major initiatives of Ease of doing businesses in India” from below….

Major initiatives of Ease of doing businesses in India

Major initiatives of Ease of doing businesses in India

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Ease of doing business:

The application for Industrial License and Industrial Entrepreneur Memorandum has been now made online and it can be accessed and any one can apply it online 24*7 by sitting at the home or office. There are around 14 services which are being automated and being made electronic which includes commencement of business, company name, advance foreign remittance, IEC code etc.

The validity period for the license to be valid has been increased to 3 years from 2 years which was previously made, because there was the long process for obtaining the loan, which consumed maximum time of the license period.

Now the government will be granting the security clearance for the disastrous goods in within 12 weeks. This license once granted will be valid for 3 years for other than explosives goods.

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Before the initiative, the commencement of the production was treated when they start production of each and every product for which they obtain license. But now if the production of any 1 item is started will be treated as production being started.

The FAQs have been now uploaded on DIPP website so that the applicants can check out their questions only and get there answers whenever they want.

Security Manual for Licensed Defense Industry has been issued so now the applicants do not require the affidavit which was required by previous applicants for the purpose of complying with safety and security guidelines of the government.

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A specific cell line has been issued called “Investor facilitation Cell” for assisting the investors for the life cycles of the business.

The great relief to the Business sector was that they had made the Environment and the Forest clearances have been made online so they need not require to wait for the license and they will be required to be done online only.

With the notification dated 12-03-2015, now the documents required for the import of goods and the export of goods have been decreased to extent of 3 only. Now the importers and exporters have not to file many documents which were very much irrelevant.

Now the company’s name availability and DIN number can be applied simultaneously in one form called form INC-29.Now the clause for the minimum paid up capital and common seal of the companies have been removed.

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Registration processes for the VAT and Professional tax has been combined together and now they are required to file the returns and pay the same on the same registration details.

Now in Mumbai, the time required for new electric connection has been reduced from 67 days to 21 days and the procedures required for the new electric connection has been now made to 3 from 7 procedures.

The registration for Employees Provident Fund Organization and Employee State Insurance Corporation has been automated very much and the registered number of ESIC has been now made to real time basis, which means they are providing the numbers on the time of applying only.

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About Yash Shah

Yash Shah is passionate article writer and has written more than 100 articles in the field of Finance, Insurance, Stock Market, Company Law, Auditing, Taxation and many others. In case of any queries or suggestions, you can reach the author @ [email protected], you can also catch him on facebook @ yashshah299

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