Assam to Get Rs 934 Crore for Completing Ease of Doing Business Reforms

GUWAHATI: Assam completed the reforms stipulated by the Department of Expenditure, Ministry of Finance, under the 'Ease of Doing Business', with this the state will be granted an additional borrowing permission of Rs 934 crore.

Assam along with four other states have been granted the permission to raise additional Rs.5,034 crore through Open Market Borrowings.

The other states are Haryana, Himachal Pradesh and Punjab.

It needs to be mentioned here with the addition of the four states the total number of states that have undertaken the reforms to facilitate ease of doing business has surged to 12.

Earlier, Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana have also reported completion of this reform, which was confirmed by the Department for Promotion of Industry and Internal Trade (DPIIT).

On completion of the 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 indicator that determines the growth of the state economy. It facilitates the investment friendly business climate in the country, thereby improving the ease of doing business that will enable faster future growth of the state economy.

In an effort to build the business environment in the country the Government of India has on May 2020, decided to link the grant of additional borrowing permit to the States who undertake the reforms to facilitate ease of doing business.

The reforms stipulated in this category include completion of first assessment of 'District Level Business Reform Action Plan', Elimination of the requirements of renewal of registration certificates/approvals/licences obtained by businesses under various Acts and Implementation of computerized central random inspection system under the Acts wherein allocation of inspectors is done centrally, the same inspector is not assigned to the same unit in subsequent years, prior inspection notice is provided to the business owner, and inspection report is uploaded within 48 hours of inspection.

Of late the Government has enhanced the borrowing limit of the States by 2 percent of their GSDP to meet the challenges posed by the Covid-19 pandemic.

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