Ease of Do­ing Biz: Govt Seeks In­dus­try Views

DIPP is gath­er­ing feed­back from the in­dus­try on reg­u­la­tory pro­cesses, plans to im­prove pub­lic in­ter­face at reg­u­la­tory bod­ies by digi­ti­sa­tion

The Economic Times - - Economy: Macro, Micro & More - Ruchika.Chi­tra­van­shi @times­group.com

New Delhi: The govern­ment is seek­ing feed­back from in­dus­try on the hur­dles they face when deal­ing with reg­u­la­tory bod­ies, a move aimed at mak­ing it eas­ier to do busi­ness in the country. “We are work­ing to­wards im­prov­ing our rank­ings on the World Bank’s ease of do­ing busi­ness in­dex, and also tak­ing it a step fur­ther to ad­dress in­dus­try con­cerns which they can­not con­vey di­rectly to th­ese bod­ies,” a se­nior govern­ment of­fi­cial, who did not wish to be named, said.

In­dia was ranked 130 out 189 economies in the ‘Do­ing Busi­ness’ re­port for 2016, up from 142 in 2015. It has set a tar­get of break­ing into the top 100 next year and the top 50 within the next three years.

The De­part­ment of In­dus­trial Pol­icy and Pro­mo­tion (DIPP) wants to iden­tify all points of pub­lic in­ter­face at reg­u­la­tory bod­ies — such as the Se­cu­ri­ties and

SEBI TAKES LEAD OVER PEERS

Ex­change Board of In­dia (Sebi), In­surance Reg­u­la­tory and De­vel­op­ment Au­thor­ity (Irda) and Food Safety and Stan­dards Au­thor­ity of In­dia (Fssai) — and min­istries and there­after re­duce them to a bare min­i­mum. This would re­quire digi­ti­sa­tion and sim­pli­fi­ca­tion of pro­cesses.

In­dus­try bod­ies such as Con­fed­er­a­tion of In­dian In­dus­try (CII) and Fed­er­a­tion of In­dian Cham­bers of Com­merce and In­dus­try (Ficci), which have of­ten raised is­sues re­gard­ing reg­u­la­tory bod­ies, have been in­volved in this process.

“There is plenty of scope of im­prove­ment, but one will have to deep-dive to un­der­stand is­sues spe­cific to each body,” said Jai­jit Bhat­tacharya, part­ner- govern­ment ser­vices and in­fras­truc­ture, KPMG In­dia. “Changes have to be made with­out com­pro­mis­ing with the reg­u­la­tion it­self.”

Af­ter col­lat­ing the re­sponses, the DIPP will dis­cuss the is­sues with reg­u­la­tors and sug­gest ways of mak­ing im­prove­ments. “Reg­u­la­tors are au­ton­o­mous bod­ies, but we are con­fi­dent that when sug­ges­tions would come from the top-most govern­ment au­thor­ity, they would lead to some on-ground ac­tion,” the of­fi­cial quoted ear­lier said.

In­dia’s mar­ket reg­u­la­tor Sebi was ranked higher than coun­tries in­clud­ing the US, Ger­many and Ja­pan for pro­tec­tion of mi­nor­ity in­vestors in last year's Do­ing Busi­ness Re­port of the World Bank.

In or­der to make it eas­ier to do busi­ness in In­dia, the govern­ment plans to have

In­dus­try bod­ies CII and Ficci are in­volved in the process

DIPP wants to iden­tify all points of pub­lic in­ter­face at reg­u­la­tory bod­ies and min­istries and re­duce them to bare min­i­mum

It will also dis­cuss the is­sues with reg­u­la­tors and sug­gest ways of mak­ing im­prove­ments

sin­gle-win­dow clear­ance for food im­ports, pa­per­less in­come tax as­sess­ment, and re­duce com­pli­ances, among other ini­tia­tives. If pend­ing leg­is­la­tions such as the goods and ser­vice tax and bankruptcy bills are passed in the bud­get ses­sion, they will add to im­prov­ing the busi-

rank­ing out of 189 economies in Do­ing Busi­ness re­port for 2016

Plans to break into top 100 next year and the top 50 within next 3 years

ness en­vi­ron­ment of the country. Last year, the govern­ment in­tro­duced ease of do­ing busi­ness rank­ing for all states to set in mo­tion long-pend­ing re­forms such as sin­gle-win­dow clear­ance, con­struc­tion per­mits, and sim­pli­fy­ing ap­pli­ca­tions at the state level.

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