01 November 2016 Current Affairs:
Andhra Pradesh and Telangana have jointly topped the ease of doing business ranking in the list prepared by the World Bank and the Indian government’s department of industrial policy and promotion for 2016.
About Ease of Doing Business Index :
Gujarat has slipped to the third position in the list and Chhattisgarh, Madhya Pradesh and Haryana occupied the fourth, fifth and sixth slots in the index based on the degree of implementation of the government’s 340-point Business Reform Action Plan.
It is noted that Last year, only seven states implemented more than 50% of the reforms proposed. This year, 17 have implemented more than 50% of the 340 reforms listed by DIPP.
States have created a dedicated body as a one-stop system for state-level regulatory and fiscal incentives approvals for single-window clearances.
The states have also made good progress in tax reforms by mandating e-registration for value-added tax, central sales tax, and other such, and by allowing online payment and tax return filing.
The results of the assessment demonstrate states have increasingly risen to addressing the challenge of making it easier to do business. The national implementation average stands at 48.93%, significantly higher than last year’s average of 32%.