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prelims Test Series 2019
बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Damodaran Panel Report on Business Environment
Aug 26, 2015

A Committee constituted by the Government under the Chairmanship of M. Damodaran has submitted the report on Reforming the Regulatory Environment for Doing Business in India. The Committee has made recommendations on: 

  1. Legal Reforms

  2. Regulatory Architecture 

  3. Boosting Efficacy of Regulatory Process 

  4. Enabling Micro, Small and Medium Enterprises (MSMEs)

  5. Addressing State Level Issues

Department of Industrial Policy and Promotion (DIPP) has been entrusted with action on the Report as it is coordinating on matters relating to the World Bank’s Doing Business Report and issues relating to ‘ease of doing business’ in India. 

DIPP has taken a series of measures in this regard, with emphasis on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient and effective.

Major Steps taken for Greater Ease of Doing Business

  • Doing away with the requirement for minimum paid up capital in a company

  • Removing the requirement to file declaration before commencement of business by a company;

  • Removing the mandatory requirement of having a common seal by the Companies

  • Doing away with the requirement of reserving a name, and integrating the processes related to allotment of Director Identification Number (DIN), appointment of Directors etc in a single form (INC-29) for incorporation of a company.

  • Reducing the number of procedures for starting a company, by integrating the processes across different departments through E-Biz platform of DIPP.

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