Sign In
Learn bits
Polity & Governance
Admin

31/12/20 09:00 AM IST

Odisha becomes the 7th State to complete ease of doing business reforms

In news

Odisha has become the 7th State in the country to successfully undertake “Ease of Doing Business” reform stipulated by the Department of Expenditure, Ministry of Finance

Other states to complete the reform

Andhra Pradesh, Karnataka, Madhya Pradesh, Rajasthan, Tamil Nadu and Telangan

Ease of doing business reform
  • The ease of doing business is an important indicator of the investment friendly business climate in the country.
  • Improvements in the ease of doing business will enable faster future growth of the state economy.
  • Therefore, the Government of India had in May 2020, decided to link grant of additional borrowing permissions to States who undertake the reforms to facilitate ease of doing business.
The reforms stipulated in this category are:
  • Completion of first assessment of ‘District Level Business Reform Action Plan’
  • Elimination of the requirements of renewal of registration certificates/approvals/licences obtained by businesses under various Acts.
  • Implementation of computerized central random inspection system under the Acts wherein allocation of inspectors is done centrally, the same inspector is not assigned to the same unit in subsequent years, prior inspection notice is provided to the business owner, and inspection report is uploaded within 48 hours of inspection.   
So far 10 States have implemented the One Nation One Ration Card System, 7 States have done ease of doing business reforms, and 2 States have done local body reforms. Total additional borrowing permission issued so far to the States who have done the refoms stands at Rs.­­­51,682 crore.        

Source: PIB

More Related Current Affairs View All

20 Feb

The Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999

'Investors who were defrauded in the Torres Ponzi scam may receive about Rs 40 crore over the next six months.' The Mumbai Police’s Economic Offences Wing (EOW) has begun

Read More

18 Feb

Aravali safari park project

'The Haryana government’s ambitious 3,858 hectare Aravali safari park project spread across Gurugram and Nuh — which was one of the poll promises of the ruling Bharatiy

Read More

17 Feb

President’s rule function

'Recently,  four days after Manipur Chief Minister N. Biren Singh’s resignation, the Union government announced that President’s rule has been implemented in the v

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps