DPIIT holds consultation on further promoting ease of doing business with industry, other depts

New Delhi, Jun 19 (PTI) The department for promotion of industry and internal trade (DPIIT) on Wednesday held discussions and sought inputs from industry and other ministries on further promoting ease of doing business in the country, an official said.

Inputs were sought on issues such as Jan Vishwas law 2.0, World Bank's business ready index, and the national single window system, the official said.

The meeting was chaired by DPIIT Secretary Rajesh Kumar Singh. It was attended by representatives of industry body CII and senior officials of concerned departments.

"The meeting was aimed at taking inputs on different issues like Jan Vishwas law 2.0, business ready index and inputs on how to take ease of doing business forward," the official said.

The government has taken a series of steps such as reducing the compliance burden and framing a law to decriminalise minor offenses.

Business Ready (B-READY) is the World Bank's new flagship report benchmarking the business environment and investment climate in most economies worldwide.

The report assesses the regulatory framework and public services directed at firms, and the efficiency with which regulatory framework and public services are combined in practice.

The first B-READY report will be launched on September 25, 2024.

The Business Ready report is replacing the World Bank Group's earlier Doing Business index. In 2020, the World Bank decided to pause the publication of its Doing Business report following a number of irregularities regarding changes to data in previous reports.

The new focuses on 10 topics covering the lifecycle of a firm in the course of starting, operating, closing or reorganising its activities.

The topics are business entry, business location, utility services, labour, financial services, international trade, taxation, dispute resolution, market competition, and business insolvency.

The DPIIT is working on the second version of Jan Vishwas bill to further reduce the compliance burden. Working groups were set up to identify those compliances.

A national single window system (NSWS) was earlier launched for businesses to provide support to investors, including pre-investment advisory, information related to land banks, and facilitation of clearances at the Centre and state levels.

A number of states have integrated with this system.

The NSWS portal is envisioned as a one-stop shop for investors to take all the regulatory approvals and services related to investments.

It allows online filing and tracking of all applications and clearances, thereby helping investors to obtain clearances from different stakeholders without visiting different government offices.