CURRENT AFFAIRS : NATIONAL NEWSFour more states complete ease of doing business reforms
- The Department for Promotion of Industry and Internal Trade (DPIIT), added four more states have completed the reforms in the ‘Ease of Doing Business’, as stipulated by the Department of Expenditure, Ministry of Finance as per recent data.
- Four more States are Assam, Haryana, Himachal Pradesh and Punjab .
- These States have become eligible to mobilise additional financial resources and have been granted permission to raise additional Rs 5,034 crore through Open Market Borrowings.
- The total number of states that have undertaken the stipulated reforms to facilitate ease of doing business has gone up to
- Earlier, Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana have also reported completion of this reform.
- On completion of reforms facilitating ease of doing business, these twelve states have been granted additional borrowing permission of Rs 28,183 crore.
- The ease of doing business is an important indicator of the investment friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy,
- In May 2020, the government had decided to link the grant of additional borrowing permissions to states that will undertake the reforms to facilitate ease of doing business
- The four citizen-centric areas for reforms identified were as follows:
- The implementation of the One Nation One Ration Card System
- Ease of doing business reform
- Urban local body or utility reforms
- Power sector reforms
- Meanwhile, Madhya Pradesh became the first state to complete three out of four citizen-centric reforms and received additional funds for capital projects. The Department of Expenditure allocated an additional Rs.660 crore to Madhya Pradesh for capital expenditure.
