Big Boost For Startups, Ease Of Doing Business 2.0 To Be Launched

Finance Minister Nirmala Sitharaman in her speech for Budget 2022-23 today announced the government’s trust in the public and ease of doing business. This Budget hopes to lay the foundation for Amrit Kal from India at 75 to India at 100. In line with this vision, the government looks at the next phase of ease of doing business. 

As announced, ‘One Nation, One Registration’ will be established for anywhere registration to facilitate ease of living & doing business.

“For the Amrit Kaal, the next phase of ease of doing business, ease of doing business 2.0 and ease of living will be launched in our endeavour to improve productivity and efficiency of human resources, we will follow the idea of trust-based governance,” said the minister.

The new phase will be guided by the active involvement of the states, digitisation of the manual processes and interventions, integration of central and state levied systems through IT bridges, a single contact system for all citizen-centric services.

It will also focus on standardisation and removal of overlapping compliances, crowdsourcing of suggestions and the ground-level assessment of the impact with the active involvement of citizens and businesses (startups) will be encouraged.

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A single window portal “Parivesh” for all green clearances was launched in 2018. It has been instrumental in reducing the time required for approvals significantly. The minister announced that the scope of this portal will also be expanded as part of ease of doing business 2.0 to further reduce the number of application forms from four to one. 

The economic survey released prior to the budget highlighted India’s ease of doing business ranking as 63, up 14 positions from the previous ranking. 

The Indian government’s continuous efforts to improve digitisation and increase digital and financial inclusion in the country are key factors leading to the growth.

The budget 2022-23 also proposed several other initiatives to increase the ease of doing business. For instance, data exchange among all-mode operators will be brought on the Unified Logistics Interface Platform to enable efficient movement of goods and reduce logistics cost and time. 

Also, the issuance of E-passports using embedded ships and futuristic technology will be rolled out in 2022-23 to enhance the convenience for the citizens in their overseas travel. 

Next From Union Budget 2022 – A Fiat Crypto Digital Rupee To Be Launched By RBI In 2022-23

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