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Now, only four days to start a new business
In its efforts to improve the business climate in the country and enhance the ranking in the World Bank report on Ease of Doing Business, the government has decided to reduce the number of procedures for starting a business to four and the number of days to start it also to four.
Finance Minister Arun Jaitley held the meeting with the related ministers, where it was decided to mandate eBiz portal for starting a business which shall include three functions of Ministry of Corporate Affairs, Registration for PAN and TAN and also registration for EPFO & ESIC.
Besides, Shram Suvidha Portal has been designated as the only portal for filing return, challan and making online payment for EPFO & ESIC.
Department of Revenue and Ministry of Shipping shall work towards increasing the number of direct delivery consignments to 40 per cent by end of this month, the Finance Ministry said in a statement.
Ministry of Corporate Affairs has been asked to work with the concerned stakeholders so that the Insolvency and Bankruptcy Code could be implemented through NCLT.
To further improve country’s ranking in the indicator of ‘Getting Credit’, Department of Financial Services and Ministry of Corporate Affairs will look after integrating CERSAI database with ROC Registry of Charges to create a single registry of assets.