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For All Defence Aspirants ease of doing business report 2019 for india

For All Defence Aspirants ease of doing business report 2019 for india

Ease Of Doing Business Report 2019

In The Latest Ease Of Doing Business Report 2019 Released By The World Bank, India Improved Its Ranking By 23 Places To Secure 77th Rank.

Key Points

New Zealand Topped The List Of 190 Countries In Ease Of Doing Business ,Followed By Singapore, Denmark ,And Hong Kong.

The Report Also RecognizesA India And Djibouti As The Only Economics To Be Top 10 Improvers In This Year’s Assessment For The Second Successive Time. Moreover,India Is The Only Large Country This Year Have Achieved Such A Significant Shift.

India Has Improved Its Rank In 6 Out Of 10 Indicators And Has Moved Closer To International Best Practices On 7 Out Of The 10 Indicators.

The Most Dramatic Improvements Have Been Registered In The Indicators Related Construction Of Construction Permits And Trading Across Borders .In Grant Of Construction Permits, India’s Rank Improved Of 129 Ranks In A Single Year.

In 2018 Report, India Had Leapfrogged By 30 Places To Move Into The Top 100 Rankings Among 190 Countries.

India’s Initiatives For Improvement In Doing  Business

Starting A Business: India Made Starting A Application Forms Into A General Incorporation Form. India Also Replaced The Value Added Tax With The GST For Which The Registration Process Is Faster. At The Same Time, Mumbai Abolished The Practice Of Site Inspections For Registering Companies Under The Shops And Establishments Act.

Construction Permits: India Streamlined The Process Of Obtaining A Construction Permit And Make It Faster And Less Expensive To Obtain A Construction Permit.

Getting Electricity: The Delhi Electricity Regulatory Commission Reduced Charges For Low Voltage Connections .Getting Electricity Was Also Made Easier In Delhi Through A Reduction In The Time To Carry Out The External Connection Works.

Getting Credit: India Strengthened Access To Credit By Amending Its Insolvency Law. Secured Creditors Are Now Given Absolute Priority Over Claims Within Insolvency Proceedings.

Paying Taxes: India Made Paying Taxes Easier By Replacing Many Direct Taxes With A Single Indirect Tax GST For The Costly By Reducing The Corporate Income Tax Rate And The Employees’ Provident Funds(EPF) Scheme Rate Paid By The Employer.

Trading Across Borders: India Reduced The Time And Cost To Export And Import Through Various Initiatives, Including  The Implementation Of Electronic Sealing Of Containers, The Upgrading Of Port Infrastructure And Allowing Electronic Submission Of Supporting Documents With Digital Signatures.

Trade Facilitation: Under Its National Trade Facilitation Action Plan 2017-2020,India Implemented Several  Initiatives That Improved The Efficiency Of Cross-Border Trade, Reducing Border And Documentary Compliance Time For Both Experts And Imports.

Investor Facilitation: Investor Facilitation Cell Has Been Created Under The Invest India Agency.

Competitive Federalism: Government Has Also Started To Rank Its 36 States And Union Territories In Order To Further Promote Ease Of Doing Business In The Country.

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