Sign In
Learn bits
Polity & Governance
Admin

31/12/20 09:00 AM IST

Odisha becomes the 7th State to complete ease of doing business reforms

In news

Odisha has become the 7th State in the country to successfully undertake “Ease of Doing Business” reform stipulated by the Department of Expenditure, Ministry of Finance

Other states to complete the reform

Andhra Pradesh, Karnataka, Madhya Pradesh, Rajasthan, Tamil Nadu and Telangan

Ease of doing business reform
  • The ease of doing business is an important indicator of the investment friendly business climate in the country.
  • Improvements in the ease of doing business will enable faster future growth of the state economy.
  • Therefore, the Government of India had in May 2020, decided to link grant of additional borrowing permissions to States who undertake the reforms to facilitate ease of doing business.
The reforms stipulated in this category are:
  • Completion of first assessment of ‘District Level Business Reform Action Plan’
  • Elimination of the requirements of renewal of registration certificates/approvals/licences obtained by businesses under various Acts.
  • Implementation of computerized central random inspection system under the Acts wherein allocation of inspectors is done centrally, the same inspector is not assigned to the same unit in subsequent years, prior inspection notice is provided to the business owner, and inspection report is uploaded within 48 hours of inspection.   
So far 10 States have implemented the One Nation One Ration Card System, 7 States have done ease of doing business reforms, and 2 States have done local body reforms. Total additional borrowing permission issued so far to the States who have done the refoms stands at Rs.­­­51,682 crore.        

Source: PIB

More Related Current Affairs View All

13 Aug

Working of satellite internet

'Satellite internet is revolutionizing how we connect, extending high-speed access to virtually every corner of the globe, regardless of location.' Imagine getting online from t

Read More

13 Aug

CBSE’s plan for open-book exams

'The Central Board of Secondary Education (CBSE) has officially approved the introduction of Open-Book Assessments (OBAs) for Class 9 students starting from the 2026-27 academic se

Read More

12 Aug

Stray dog problem

'The Supreme Court  directed the Delhi government, civic bodies, and authorities of Noida, Gurgaon, and Ghaziabad to round up and move stray dogs to shelters, underlining the

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps