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Economy
Mahesh

07/12/22 05:37 AM IST

Govt considering PAN card number to be single-point identifier to expedite clearances

In News
  • Union Minister of Commerce and Industry, Piyush Goyal said that the National Single Window System (NSWS) would help realize Prime Minister Narendra Modi's vision of transforming red tape to red carpet.
About NSWS 
  • The national single window system (NSWS) is being developed by the Department for Promotion of Industry and Internal Trade (DPIIT) as a one-stop shop for investors to apply for various approvals from central and state governments.
  • It will act as a single online interface that can be used by businesses to identify, seek and track clearances from various government entities.
  • The system will provide the required information for receiving various government permits for setting up and running a business facility.
  • This will ease the process of setting up units for businesses.
  • So far, the NSWS has received some 76,000 applications and requests. Of these, over 48,000 approvals had been granted through this system.
Current System
  • The current system forces investors to run from one department to another and submit same sets of information across different platforms for obtaining permits.
  • This complicated and ineffective process creates delays and makes application process cumbersome.
  • This has discouraged large multinational corporations from investing in India or scaling their operations within the country.
  • The NSWS seeks to address these issues and ensure ease of doing business in India.
Source- Live Mint

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