Chhattisgarh among 20 states completing ‘Ease of Doing Business’ reforms

Raipur, March 20: Chhattisgarh has found its place on the list of 20 states successfully completing Ease of Doing Business reforms, thanks to the industry-friendly decisions and policies of the Bhupesh Baghel-led government. With this, Chhattisgarh has become eligible for additional borrowing of 0.25 percent of Gross State Domestic Product (GSDP). On receipt of the recommendation from the Department for Promotion of Industry and Internal Trade (DPIIT), the Department of Expenditure has granted permission to these 20 States to raise additional financial resources of Rs 39,521 crore through Open Market Borrowings.
Chhattisgarh has been allowed to take a loan of Rs 895 crore as additional financial source. The number of States who have successfully completed the ‘Ease of Doing Business’ reforms has reached to 20. Apart from Chhattisgarh, four more states Arunachal Pradesh, Goa, Meghalaya and Tripura have recently completed the reform process. 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.
Therefore, the government of India had in May 2020, decided to link grant of additional borrowing permissions to States who undertake the reforms to facilitate ease of doing business. Completion of the action plan for reforms at the district level in the first phase as per the set process for implementing the Ease of Doing Business reforms, in the second phase the registration certificate, approval, licensing of the industries under various Acts.
Similarly, the system of computerized central inspection in the third phase, the same inspector for inspection of industries will not be given the responsibility of inspecting the same unit again next year, issuing prior notice to industrialists for inspection of industrial units and 48 hours of inspection Includes uploading inspection reports within. It is noteworthy that in view of the Corona crisis period, the Government of India had on 17 March 2020 raised the limit for states to take loans up to 2 per cent of their GSDP to promote industrial activities. Under this special arrangement, half the amount was to be spent by the states on activities centered on civic amenities. Four special areas were identified for this, including One Nation One Ration Card System, Ease of Doing Business Reforms, Urban Local Bodies Utility Reforms and Power Sector Reforms.