PMLA - Once accused has got bail in money laundering case despite stringent conditions under PMLA, his further detention in predicate offence by CBI under Prevention of Corruption Act, is untenable: SC (See 'Legal Desk') Coal Ministry reviews progress of 71 Commercial Coal Mines (See 'Corp Brief') Trademarks Act -Rights bestowed upon assignee does not originate directly from execution of Assignment Deed, rather than its later registration: HC (See 'Legal Desk') Maritime State Development Council to drive Strategic Maritime Development and Sustainability (See 'Corp Brief') PMLA- amount of proceeds of crime lying in fixed deposit in name of SP,CBI was not likely to be concealed, transferred or dealt with in manner which may frustrate proceeding for confiscation: TRIBUNAL (See 'Legal Desk') Cabinet approves PM-eBus Sewa-Payment Security Mechanism scheme (See 'Corp Brief') Cabinet okays Budgetary Support for enabling Infrastructure for Hydro Electric Projects (See 'Corp Brief') Indian Stamp Act -Arbitration award not duly stamped cannot be admitted as piece of evidence in trial court proceedings: HC (See 'Legal Desk') MNRE announces 4th Global Investment Meet & Expo (See 'Corp Brief') Steps taken to kayak towards paperless legislative environment: Rijiju (See 'Corp Brief') Arbitration Act,1996-Existence of arbitration clause in security deed cannot be disputed as per section 11(6): HC (See 'Legal Desk') NITI Aayog Hosts National Seminar on 'Sustainable Rural Livelihoods' (See 'Corp Brief') QCI approves National Test House, Ghaziabad, as Certification Body for drones (See 'Corp Brief') Companies Act- Section 446(1) of CompaniesAct,1956 can permit applicants to proceed with execution proceedings: HC (See 'Legal Desk') BRICS Labour & Employment Ministerial Declaration adopted (See 'Corp Brief') Second regional program to focus on Digital Public Infrastructure (See 'Corp Brief') Companies Act,2013- Failure to exercise due diligence and being grossly negligent in conduct of professional duties is illegal: NFRA (See 'Legal Desk') Coal Ministry conducts Mid-Year Review Meeting of Coal PSUs' CSR Activities (See 'Corp Brief') PM to inaugurate Global RE-INVEST at Gandhi Nagar (See 'Corp Brief') IBC-Existing criminal liability of Company and its erstwhile Directors will not get extinguished in view of resolution plan approved by NCLT: HC (See 'Legal Desk') Army & IAF ink MoU with Gati Shakti Vishwavidyalaya to enhance skills in logistics (See 'Corp Brief') IEPFA organised 'Niveshak Mashal' annual half marathon to promote financial literacy (See 'Corp Brief') Constitution of India-Constituional court exercising its powers of judicial review under Article 226 should not interfere when there is alternate and efficacious remedy available within agreement itself: HC (See 'Legal Desk') Health Ministry releases 'Health Dynamics of India Infrastructure & HRs report (See 'Corp Brief') FERA-Law prescribing special procedure for investigation of breaches of foreign exchange regulations will not be hit by Article 14 as it was based on classification which had just and reasonable relation to object of legislation: HC (See 'Legal Desk') BRICS Employment Working Group Meeting 2024 Convened in Sochi, Russia (See 'Corp Brief') DG RPF leads Tribute to Police Martyrs at Hot Springs memorial, Ladakh (See 'Corp Brief') Negotiable Instruments Act- Independent directors cannot be made vicarioulsy liable for incriminating act committed by company: HC (See 'Legal Desk')

Print

Single Window System working well to promote investment: MoS

Published: Aug 07, 2024

By TIOLCorplaws News Service

NEW DELHI, AUG 07, 2024: THE Government has taken several steps to boost investments and attract more industrial activities in the country. The Government of India, through Department for Promotion of Industry and Internal Trade (DPIIT) and other Central Ministries/ Departments, provides an enabling eco-system for the overall industrial development of the country through appropriate policy interventions. In addition to on-going schemes of other Ministries/ Departments, this Department has taken various steps for promotion and facilitation of  industries across States/UTs, which includes Andhra Pradesh, Maharashtra and Uttar Pradesh, such as Make in India, Start-up India, PM GatiShakti, National Industrial Corridor Programme, Production Linked Incentive (PLI) Scheme, promoting Ease of Doing Business (EoDB) and reducing compliance burden, National Single Window System (NSWS), India Industrial Land Bank, Project Monitoring Group (PMG), liberalization of FDI policy, Indian Footwear and Leather Development Programme (IFLDP) Scheme, etc. An institutional mechanism to fast-track investments has been put in place, in the form of Project Development Cells (PDCs), in all concerned Ministries/ Departments of Government of India.

In addition, the Government has implemented various measures to stimulate Foreign Direct Investment (FDI) inflows. The Government has put in place an investor friendly policy, wherein most sectors except certain strategically important sectors, are open for 100% FDI under the automatic route. Almost 90% of the FDI inflow is received under the automatic route. India continues to open up its economy to global investors by raising FDI limits, removing regulatory barriers, developing infrastructure and improving business environment.

The Government has taken initiatives to simplify, rationalize, digitize and decriminalize Government to Business (G2B) and Citizen Interface across all the States/UTs with the objective to improve Ease of Doing Business and Ease of Living. So far, more than 42,000 compliances have been reduced and more than 3,800 provisions have been decriminalized. Jan Vishwas (Amendment of Provisions) Act, 2023 was introduced to further the trust-based governance and enable de-criminalization of minor offences and compliance-based laws and requirements. The Act decriminalized 183 provisions under 42 Acts administered by 19 Ministries/Departments. India ranks 63 rd in the World Bank's Doing Business Report (DBR), 2020 published in October, 2019. India's rank in the DBR improved from 142nd in 2014 to 63rd in 2019, registering a jump of 79 ranks in a span of 5 years.

The Department for Promotion of Industry and Internal Trade (DPIIT) has developed the National Single Window System (NSWS) portal as a one-stop for taking all the regulatory approvals and services in the country. NSWS platform aims to streamline the G2B ecosystems and further promote ease of doing business in India. The platform promotes Accountability, Information Symmetry and Transparency within the G2B ecosystem by providing a national portal, PAN based verification and registration and access to more than 270+ G2B services at the central level. Thus, it also eliminates the need for multiple interfaces and registrations for businesses to avail requisite G2B services. The national portal integrates the existing clearance systems of the various Ministries/ Departments of Govt. of India and State Governments. Currently, approvals of 32 Central Ministries/ Departments and 28 States/UTs Single Window Systems have been integrated with the NSWS Portal. A total of 277 Central approvals and 2,977 state approvals can be applied through NSWS. Information pertaining to 653 central approvals and 6,198 state approvals are available to businesses via the Know Your Approval (KYA) module of NSWS.

This information has been provided by the Union Minister of State for Commerce and Industry, Jitin Prasada in a written reply in the Lok Sabha yesterday.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
taxindiaonline
A Taxongo Website. Copyright © 2016-2022 tiolcorplaws.com All rights reserved.