The document discusses India's remarkable progress in improving its ease of doing business ranking according to the World Bank's Ease of Doing Business Index. It notes that India jumped from 142nd in 2014 to 63rd in 2019 due to regulatory reforms aimed at reducing compliances, streamlining processes, and improving various business regulations and procedures related to starting a business, construction permits, electricity access, property registration, credit access, investor protections, tax compliance, trade, contract enforcement and insolvency resolution. However, the index was discontinued in 2021 due to concerns about data manipulation.
This presentation contains all the details regarding new improvements in Doing Business in India 2018. The data is taken from various news articles and Ease of Doing business 2018 world bank Report. I am ready to send detailed report along with conclusion on Ease of doing business at Attractive price..
Following are the references used in report:
1 World Bank, Doing Business Report 2018, October 2017
2 Doing Business website: http://www.doingbusiness.org
3 live mint, 2017, Matthew Lillehaugen and Milan Vaishnav: Doing business in India: myths and realities
4 Hindustan Times, October 31, 2017, P Suchetana Ray and Asit Ranjan Mishra, India jumps into top 100 in World Bank’s ease of doing business rankings
5 Hindustan Times, 1 Nov, 2017, P Suchetana Ray and Moushumi Das Gupta, Ease of doing business: How India improved its ranking.
This presentation contains all the details regarding new improvements in Doing Business in India 2018. The data is taken from various news articles and Ease of Doing business 2018 world bank Report. I am ready to send detailed report along with conclusion on Ease of doing business at Attractive price..
Following are the references used in report:
1 World Bank, Doing Business Report 2018, October 2017
2 Doing Business website: http://www.doingbusiness.org
3 live mint, 2017, Matthew Lillehaugen and Milan Vaishnav: Doing business in India: myths and realities
4 Hindustan Times, October 31, 2017, P Suchetana Ray and Asit Ranjan Mishra, India jumps into top 100 in World Bank’s ease of doing business rankings
5 Hindustan Times, 1 Nov, 2017, P Suchetana Ray and Moushumi Das Gupta, Ease of doing business: How India improved its ranking.
Doing Business Indicators developed and measured by the World Bank compare the economies of over 180 countries based on a wide variety of statistics, from credit availability to cross border trading. In 2018, Bangladesh ranked 177/180 obtaining the DTF score 40.99/100. Some observations and recommendations are presented here.
The document describes the ease of doing business in India. It discusses the factor used for calculating ease of doing business index. It also mentions about the regulations restricting the ease of doing business in India and the way forward to improve the same.
National General Election – Our vote to be decisiveNeha Sharma
The general elections have been announced and within 3 to 4 weeks voting process will commence. It is very important for the Chartered Accountants fraternity to actively participate in the election process not only by casting their votes but also actively participating in shaping the thought process of the society.
The general election to Lok Sabha is the most important democratic process in the Indian Constitutional Framework. Current elections have attracted a huge turnout of the voters, clearly indicating to the political leadership that India need change and Indian democracy, economy and expectations of public and society is under transformation.
Includes expectations from the Union Budget of 2016 in 3 sectors - Infrastructure, Startup Funding and Ease of Doing Business. It includes an analysis of policies in the Budget of 2015 and a log of measures the Government could take up
The state government of Maharashtra has been at the forefront in creating a conducive business environment that fosters globally competitive firms. Business reforms introduced both by the Central as well as the state government have played a critical role in India’s 30 spots improvement in the Doing Business ranking for 2018.
The State, under the Business Reforms Action Plan (BRAP) 2016, has implemented over 90 per cent reforms in 7 out of 10 parameters, including labour registration, utility connections, single window system, environment registration, among others. These policy reforms have significantly helped in the reduction in time and cost of doing business for the industry, thereby
establishing Maharashtra as one of the top investment destinations in the country.
This report provides the key highlights of the select initiatives on ease of doing reforms in Maharashtra. With a view to provide on-ground impact of these initiatives, the Report also captures industry views on various aspects of business reforms.
Sanjeev_Sanyal_Process_Reforms_The_India_dialog_2024.pdfDr. Amit Kapoor
Presentation done by Sanjeev Sanyal, Member, EAC – PM, Government of India on "India’s Process Reforms – Fixing the Nuts and Bolts" at #TheIndiaDialog on March 1, 2024 at Stanford University. The #TheIndiaDialog was organised by Institute for Competitiveness and US Asia Technology Management Center at Stanford University.
#TheIndiaDialog looks at inviting the world’s leading experts and intellectuals in the areas of economics, business, policy, social development, science, technology, art and culture to provide their perspectives and foster an understanding of India. There would be a series of keynote addresses, panel discussions, and fireside chats during the dialog.
Introduction:
The government has taken steps in transforming its judicial system by going completely faceless and using e-proceedings. Faceless e-proceedings started off as a pilot-based email assessment, but has now gone completely faceless. Even the first appellate proceedings as well penalty proceedings have gone faceless with notices and orders being received on a daily basis. Further, the Govt. has also announced an e-filing portal of Income-tax Appellate Tribunal.
Faceless schemes and e-proceedings have become increasingly prevalent since their inception, as the government has introduced several initiatives to improve ease of doing business. These schemes are not solely about e-proceedings, but also encompass the entire process of appellate proceedings, penalty proceedings, and even regular cases. E-proceedings involve the electronic filing of documents, submission and receipt of evidence, and provide users with real-time access to proceedings, eliminating the need for physical presence in a courtroom.
An overview of our organisation, nature of services offered by us in the field of Works contract, scope of tax planning in Inter-state works contract and an expertise solution to multi state VAT complexities under works contract. Some of the Organizations to whom we have rendered our Services. Our contact details.
“In today's environment, hoarding knowledge ultimately erodes your power. If you know something very important, the way to get power is by actually sharing it.” Here is today's newsletter 11/08/2020. Stay safe, Stay Healthy- Pradeep
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Doing Business Indicators developed and measured by the World Bank compare the economies of over 180 countries based on a wide variety of statistics, from credit availability to cross border trading. In 2018, Bangladesh ranked 177/180 obtaining the DTF score 40.99/100. Some observations and recommendations are presented here.
The document describes the ease of doing business in India. It discusses the factor used for calculating ease of doing business index. It also mentions about the regulations restricting the ease of doing business in India and the way forward to improve the same.
National General Election – Our vote to be decisiveNeha Sharma
The general elections have been announced and within 3 to 4 weeks voting process will commence. It is very important for the Chartered Accountants fraternity to actively participate in the election process not only by casting their votes but also actively participating in shaping the thought process of the society.
The general election to Lok Sabha is the most important democratic process in the Indian Constitutional Framework. Current elections have attracted a huge turnout of the voters, clearly indicating to the political leadership that India need change and Indian democracy, economy and expectations of public and society is under transformation.
Includes expectations from the Union Budget of 2016 in 3 sectors - Infrastructure, Startup Funding and Ease of Doing Business. It includes an analysis of policies in the Budget of 2015 and a log of measures the Government could take up
The state government of Maharashtra has been at the forefront in creating a conducive business environment that fosters globally competitive firms. Business reforms introduced both by the Central as well as the state government have played a critical role in India’s 30 spots improvement in the Doing Business ranking for 2018.
The State, under the Business Reforms Action Plan (BRAP) 2016, has implemented over 90 per cent reforms in 7 out of 10 parameters, including labour registration, utility connections, single window system, environment registration, among others. These policy reforms have significantly helped in the reduction in time and cost of doing business for the industry, thereby
establishing Maharashtra as one of the top investment destinations in the country.
This report provides the key highlights of the select initiatives on ease of doing reforms in Maharashtra. With a view to provide on-ground impact of these initiatives, the Report also captures industry views on various aspects of business reforms.
Sanjeev_Sanyal_Process_Reforms_The_India_dialog_2024.pdfDr. Amit Kapoor
Presentation done by Sanjeev Sanyal, Member, EAC – PM, Government of India on "India’s Process Reforms – Fixing the Nuts and Bolts" at #TheIndiaDialog on March 1, 2024 at Stanford University. The #TheIndiaDialog was organised by Institute for Competitiveness and US Asia Technology Management Center at Stanford University.
#TheIndiaDialog looks at inviting the world’s leading experts and intellectuals in the areas of economics, business, policy, social development, science, technology, art and culture to provide their perspectives and foster an understanding of India. There would be a series of keynote addresses, panel discussions, and fireside chats during the dialog.
Introduction:
The government has taken steps in transforming its judicial system by going completely faceless and using e-proceedings. Faceless e-proceedings started off as a pilot-based email assessment, but has now gone completely faceless. Even the first appellate proceedings as well penalty proceedings have gone faceless with notices and orders being received on a daily basis. Further, the Govt. has also announced an e-filing portal of Income-tax Appellate Tribunal.
Faceless schemes and e-proceedings have become increasingly prevalent since their inception, as the government has introduced several initiatives to improve ease of doing business. These schemes are not solely about e-proceedings, but also encompass the entire process of appellate proceedings, penalty proceedings, and even regular cases. E-proceedings involve the electronic filing of documents, submission and receipt of evidence, and provide users with real-time access to proceedings, eliminating the need for physical presence in a courtroom.
An overview of our organisation, nature of services offered by us in the field of Works contract, scope of tax planning in Inter-state works contract and an expertise solution to multi state VAT complexities under works contract. Some of the Organizations to whom we have rendered our Services. Our contact details.
“In today's environment, hoarding knowledge ultimately erodes your power. If you know something very important, the way to get power is by actually sharing it.” Here is today's newsletter 11/08/2020. Stay safe, Stay Healthy- Pradeep
Similar to The Ease of Doing Business Index.pptx (20)
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
The Ease of Doing Business Index.pptx
1. The Ease of Doing Business
Index
:Origin, Evolution, and Impact
Baiju P
Assistant Professor
Kristu Jayanti College
Course name: Contemporary Indian economy
Course code:
Module 3 Industry and Business
2. Genesis of the Index
• Created by Simeon Djankov, Michael Klein, and Caralee McLiesh at
the World Bank.
• Following the World Development Report 2002.
• Joint academic research with Edward Glaeser, Oliver Hart, and Andrei
Shleifer.
3. Founders and Contributors
• Djankov, Klein, and McLiesh listed as founders.
• Attribution of the idea to Djankov and Gerhard Pohl in some sources.
4. How the Index Works
• Higher rankings (lower numerical values) signify better regulations and
property rights.
• Economic growth benefits from improved regulations.
5. The research presents data for 190 economies and
aggregates information from 10 areas of business
regulation:
• Starting a Business of all
• Dealing with Construction Permits
• Getting Electricity
• Registering Property
• Getting Credit
• Protecting Minority Investors
• Paying Taxes
• Trading across Borders
• Enforcing Contracts
• Resolving Insolvency
• Rankings and weights on each of the mentioned parameters are used to develop an overall EoDB ranking. A
high EoDB ranking means the regulatory environment is more conducive for starting and operating
businesses.
6.
7. End of the Index
• Discontinued by the World Bank on September 14, 2021.
• Audit revealed pressure to manipulate results.
• Proposed replacements by various organizations.
8. New Methodology
released methodology in May 2023.
• Detailed guidelines for each topic area.
• Methodology workshops worldwide to raise awareness.
9. India ease of doing business rank jumps 23
places to 77 in 2018
10. India's Remarkable Progress:
• Jumped from 142nd (2014) to 63rd (2019) in World Bank's Ease
of Doing Business Ranking.
• Attractive destination for investments and business.
• India's ranking in Doing Business 2020: 63rd among 190 countries.
• Ambitious program launched in 2014 for regulatory reforms.
• Consistent improvement: 67 rank increase in 3 years.
11. Key Reforms:
• Over 39,000 compliances reduced.
• Decriminalization of over 3,400 legal provisions.
• Introduction of the Jan Vishwas Bill for trust-based governance.
• Unified filing processes to streamline submissions and ensure
authenticity.
12. Notable Achievements:
• Construction Permits: Improved from 184 (2014) to 27 (2019).
• Mainly due to reduced procedures and processing time.
• Getting Electricity: Improved from 137 (2014) to 22 (2019).
• Takes 53 days and 4 procedures to obtain an electricity connection.
• Ranking in Other Areas: 13th in Protecting Minority Investors,
25th in Getting Credit.
13. Central Government Inititives
• Starting a Business
• Permanent Account Number (PAN), Tax Deduction & Collection Account Number (TAN), Director
Identification Number (DIN) have now been merged into a single form (SPICe) for company
incorporation.8
• Elimination of incorporation fee for companies with an authorised capital of up to Rs. 15 Lakh.
• Five-page form and other attachments for reserving the name of the Company with the Ministry
of Corporate Affairs have been simplified into a simple web service with only three fields to be
filled.9
• Registration under Employee State Insurance Corporation (ESIC) and Employee Provident Fund
Organisation (EPFO) is available at Shram Suvidha portal as a common online service with no
physical touchpoint.10
• No requirement of inspection before registration under the Shops & Establishment Act in Mumbai
and Delhi.
• Companies Act was amended to eliminate the requirement of a common company seal.
14. Dealing with Construction Permits
• Municipal Corporations of Delhi, as well as Municipal Corporation of Greater
Mumbai, have introduced fast track approval system for issuing building permits
with features such as Common Application Form (CAF), provision of using digital
signature and online scrutiny of building plans.
• Delhi has uniform building by-laws which allow for risk-based classification
regimes for different building types. It has a provision of deemed approval of
sanctioning building plans within 30 days.
• For construction permits, the time reduced from 128.5 to 98 days in Mumbai and
from 157.5 to 113.5 days in Delhi between Doing Business 2018 and 2020
reports.13
• The total number of procedures reduced to 19 in Mumbai and 11 in Delhi.14
• Cost of obtaining construction permits reduced from 23.2% to 5.4% of the
economy’s per capita income.15
15. Trading Across Borders
• The Central Board of Excise and Customs (CBEC) has implemented the ‘Indian Customs
Single Window Project’ to facilitate trade. Importers and exporters can electronically
lodge their Customs clearance documents at a single point. The government has
launched ‘PCS1x’ which intends to integrate 27 maritime stakeholders at one platform.
• The number of mandatory documents required for customs purposes, for both import
and export of goods, has been reduced to three.
• e-Sanchit, an online application system, allows traders to file all documents
electronically.16
• The electronic self-sealing of the container at the factory has reduced time and cost for
exporting firms.17
• A computerized risk management system has brought transparency and reduced the
frequency of custom inspections significantly.18
• Central Board of Indirect Taxes and Customs has provided a facility for Advance Bill of
Entry (Advance Import Declaration)
16. Enforcing Contracts
1.The Commercial Courts and Appellate Division of High Courts have been
established in Mumbai and Delhi.
2.National Judicial Data Grid (NJDG), provides case data including case
registration, cause list, case status and orders/ judgements of courts
district-wise across the country. NJDG is open to the public since 2015.
3.New cases in district courts are assigned to Judges randomly through an
automated system in Delhi and Mumbai.20
4.e-filing of cases has been introduced in district courts of Delhi and
Mumbai.
5.A case management tool has been developed with the functionality of
sending a notification to lawyers, viewing court orders/ judgements,
tracking the status of cases, semi-automatically generate court orders etc.
17. Getting Credit
• Central Registry of Securitization Asset Reconstruction and Security Interest
(CERSAI) is a geographically unified electronic registry that provides for
registration by asset type. Since 2017, CERSAI also provides search through
debtor's name.
• Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest (SARFAESI) (Central Registry) Rules, 2011 was amended to
include additional types of charges, including a security interest in -
immovable property by the mortgage, hypothecation of plant and
machinery, stocks, debt including book debt or receivables, intangible
assets, patent, copyright, trademark, under-construction building.
• The definition of property, which now includes immovable as well as
intangible, allows CERSAI to register these additional charges.
18. Getting Electricity
• Electricity connection is provided within 7 days if no Right of Way
(RoW) is required and within 15 days where RoW is required.26
• Service line cum Development charges are now capped at USD 339.84
in Delhi.
• The number of documents required for getting an electricity
connection has been reduced to tow and no physical documents are
accepted.
• The total number of procedures reduced to 3 in Delhi and 4 in
Mumbai.
19. Registering Property
1.All sub-registrar offices have been digitized and its records have
been integrated with the Land Records Department, in both Delhi
and Mumbai.
2.In Mumbai, all property tax records have been digitized. Property is
mutated automatically after registration.30 The digitization of property
records ensures transparency and allows citizens to ascertain the
history of transactions in digital mode.
3.Online service for charges search at Registrar of Companies
reduces the time taken for this procedure significantly.31
4.Statistics regarding the number of land disputes at Revenue Courts
are available online in both Delhi and Mumbai.32
20. Resolving Insolvency
1.The Insolvency and Bankruptcy Code of 2016 has introduced
new dimensions in resolving insolvency in India. It is India’s first
comprehensive legislation on corporate insolvency.33
2.Under Fast-track Corporate Insolvency Resolution Process
(CIRP) for mid-sized companies, the process for insolvency
shall be completed within 90 days with a maximum grace period
of another 45 days.
21. Paying Taxes
1. Reduction of corporate tax from 30% to 25% for mid-sized companies.35
2. Domestic companies can opt for concessional tax regime @ 22% (effective tax rate: 25.17% inclusive of
surcharge and cess). Such a company cannot claim any income tax incentive or exemption. Such companies
are not liable to pay the Minimum Alternate Tax (MAT)36
3. The tax rate for new domestic manufacturing companies is now 15% (17.01% inclusive of surcharge and cess).
Companies that have been incorporated on or after 1st October 2019, making fresh investment manufacturing
and commencing production on or before 31 March 2023, may opt for such a concessional tax regime. Such
companies cannot avail of any other income tax exemption/ incentive under the Income-tax Act.36
4. A company that does not opt for the above concessional tax regime and avails any tax exemption/ incentive,
shall continue to pay tax at pre-amended rates. However, the option of availing of the lower tax regime of 22%
can be opted for after the expiry of tax during the holiday/ exemption period. Once the same has opted for it
cannot be subsequently withdrawn by the taxpayer. MAT rate for companies availing exemptions/ incentives
reduced from 18.5% to 15%.36
5. Robust IT infrastructure of online return filing for Indian taxpayers.37
6. The Goods and Service Tax came into effect on 01 July 2017. It subsumes eight taxes at the Central and nine
taxes at the State level.38
7. The Employee State Insurance Corporation (ESIC) has developed a fully online module for electronic return
filing with online payment. This has substantially reduced the time to prepare and file returns.
8. With the introduction of the e-verification system, there remains no physical touchpoint for document submission
to income tax authorities.