Union Government starts UBIN drive for budding entrepreneurs
Posted on:09 May 2016 09:13:49
09 May 2016 Current Affairs GK: The Union Government has started the process for issuance of Unique Business Identification Number (UBIN) to enable budding entrepreneurs set up their business without any delays. The drive has been launched by the Department of Industrial Policy & Promotion (DIPP) under the aegis of Union Ministry of Commerce and Industry.
Business Identification Number (UBIN) : The UBIN would be automatically linked to Ministry Of Corporate Affairs (MCA) portal after it is issued to the intended beneficiary. It will be subsequently sent to the CBDT (Central Board of Direct Taxes) which would nomenclature it as PAN for UBIN. The move is seen as a major step towards boosting ease of doing business and the start-up India initiative of the government.
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