The Department for Promotion of Industry and Internal Trade (DPIIT) has reportedly sought views of ministries on its draft cabinet note on a national policy on ease of doing business. The significance of the policy is because of DPIIT’s efforts to further improve India's doing business ranking by the World Bank. It aims to bring the ranking within the top 50.

The main features of 'National Policy on Ease of Doing Business –Proposals for Facilitation of Businesses' include assessing requirement of licences; removal of renewal requirement; assessment of time and cost of regulation; and inspection reforms.

It has also proposed norms about regular stakeholder consultation on the issue; public service quality and delivery mechanism; grievance redressal mechanism; and creation of sector-specific single-point mechanism, according to a news agency.

After cabinet approval of the final note, the policy would be circulated to ministries, departments of central government, state and union territories for implementation.

India's rank improved by 65 positions in Doing Business index over the last four years (2014-2018). In the last year's report, India’s rank was 77th. (DS)

Fibre2Fashion News Desk – India

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