PHD Chamber hails improvement in rank of Doing Business Index

PHD Chamber hails improvement in rank of Doing Business Index

PHD Chamber hails improvement in rank of Doing Business Index

 

No.PR-125
October 28, 2015
New Delhi

 

PHD Chamber hails improvement in rank of Doing Business Index
 

Improvement in Ease of Doing Business Index to the level of 130th is inspiring and reflects that the reform measures undertaken by the Government are becoming visible, said Mr. Alok B Shriram, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
 

We appreciate the work undertaken by the new government and the reform measures for ease of doing business due to which there has been an improvement in India’s ranking, said Mr. Alok B. Shriram.
 

The improvement in rankings has been observed primarily due to improvement in two parameters viz. Starting a Business and Getting Electricity. The government has eliminated the paid-in minimum capital requirement and streamlined the process for starting a business while the process for getting a new electricity connection has been made simpler and faster.
 

The improvement in ranking will boost  sentiments for production in India which is going to give a boost to Make in India program of the government, he added.
 

Further, it will enhance and strengthen industrial growth scenario and overall economic growth of the country, said Mr. Shriram.
 

However, at this juncture, the government must work towards improving on certain economic parameters such as Simplification of tax system and Dealing with construction permits, he said.
 

We believe, implementation of GST will simplify and rationalize the complex tax structure which would be critical to remove the cascading impact of indirect taxes on economy and to create a pan India common market across the country, said Mr. Alok B Shriram.
 

Bottlenecks in dealing with construction permits should be removed as the sector has potential to generate millions of employment opportunities for skilled and unskilled workforce, he added.
 

Going ahead, as significant reform measures undertaken by the new government are yet to be implemented at various stages, we can see a significant improvement in ease of doing business in the coming times, he said.
 

Consequently, we expect India’s rank on Ease of doing Business Index below 50 in the next few years, said Mr. Shriram.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)