Ease of doing business

The Indian Cabinet has given its ex-post facto approval to the Memorandum of Understanding (MoU) between India and United Kingdom (UK) to support Ease of Doing Business in India.

The MoU was signed earlier this month.

The MoU enables exchange of officials from both the Governments to facilitate sharing of best practises, offering technical assistance and enhanced implementation of reforms.

The collaboration also cover State Governments in its ambit. The UK government has shown interest to offer expertise in the following areas:

a) Support to small businesses and start ups
b) Starting business and registration
c) Paying taxes and tax administration
d) Insolvency
e) Construction permits
f) Getting electricity
g) Risk based framework for inspection and regulatory regimes
h) Trading across the borders
i) Competition economics
j] Getting credit
k) Drafting of laws and regulations
I) Reducing stock and flow of regulation
m) Impact assessment of regulations

Currently, India is ranked 130th out of 190 economies (as per Doing Business Report, 2017).

The UK Government has achieved phenomenal improvement in Ease of Doing Business (EoDB) rankings in recent years.

The beneficiaries include the officials from Central Government Ministries/Departments and State Governments through sharing of best practises, capacity building etc.

The MoU facilitate various agencies of the UK government to offer professional courses on better regulation drafting for officials, capacity-building of frontline inspectors, sharing of best practises, etc.

The collaboration is expected to expedite adoption of innovative practises by the Government of India, State Governments and their agencies leading to easing of regulatory environment in the country and fostering of conducive business climate in India, said the Press Information Bureau in New Delhi. fii-news.com