EASE OF DOING BUSINESS

 

Ease of doing Business is an index published by the World Bank. It is an aggregate figure which includes the parameters which define the ease of doing business in a country.Talking about India,it has significantly improved it's rank in the tally of ease of doing Business meaning it has jumped from 142nd position in 2014 to 63rd rank in 2020.India is offering it's land to all to all aspiring startups.This jump has been as a result of India's steps and  reliefs which it has  offered to the businesses which include:

  1. Starting a Business-One major step in this regard was merging the PAN and the TAN which facilitated easy and smooth entry of businesses in the Market.The Government also improved the online application of getting these both numbers,

2.Getting credit and resolving insolvency-The Insolvency and Bankruptcy Code passed in 2016 offers 6month time bound methodology to resolve bankruptcy.

3. Paying Taxes-The Government of India has also reduced the corporate tax that is borne by the firms and companies which also in turn helps increasing the Foreign Direct Investment,

The Modi Government is also focusing on increasing the role of Private Sector thereby reducing the stake of Public Sector in the Economy.The government argues that increasing the stake of Private Sector in the Economy will promote and translate investment into wealth creation and Income generation by taking Entrepreneurial risks.The Private Sector will in turn bring in more wealth and reduce the rate of Unemployment in the Country.