Government of India is committed to position itself in the elite club of the top 50 countries for “Doing Business” as per the rankings published annually by the World Bank. During the past 3 years, the Ministry of Corporate Affairs has contributed significantly towards improvement of ranking in Ease of Doing Business in the country, but there is a lot more scope to further improve, especially with respect to starting a business.
The feedback provided by various stakeholders on the effectiveness of the implementation of initiatives taken by Government of India is considered as a major input during the survey conducted by the World Bank. During the last assessment year, this Ministry had undertaken major initiatives such as establishing the “Central Registration Centre (CRC)” for delivering speedy incorporation related services and near real time issuance of PAN & TAN through a single on-line process. This was achieved by the launch of the Simplified Proforma for Incorporating Company Electronically (SPICe) which delivers five services by two different Ministries through a single form filed on the MCA21 Portal.
This year, on the occasion of 69th Republic Day, the Ministry is launching the following Government Process Re-engineering (GPR) initiatives for making the Incorporation Process Speedy, Smooth, Simple and reducing the number of procedures involved for starting a Business.
(i) Introduction of “RUN – Reserve Unique Name” Web service for name reservation, which will be launched on 26.01.2018.
(ii) Zero fee for incorporation of all companies with authorised capital upto Rs. 10 lakh.
(iii) Re-engineering the process of allotment of DIN by allotting it through the combined SPICe form only at the time of an individual’s appointment as Director (in case he/she doesn’t have a DIN).