पीएम नरेंद्र मोदी द्वारा घोषित राहत घोषणा “आत्मनिर्भर” पैकेज के बाद हालहीं में वित्त मंत्री श्रीमति निर्मला सीतारमण ने प्रेस-कॉफ्रेंस कर फिर से एसएमएमई को पेकैज प्रदान करने की बात कही है।
While India’s business climate has been continuously improving since 2014, India must study and bring new reforms to overcome its slow judicial process, complex compliance burden and inefficient logistics, to become an economic force to reckon with.
Uttar Pradesh is now ranked on Second position in ‘Ease of doing business index’ this year, only behind Andhra Pradesh. It was a great leap i.e of 10 positions as compared with last year.
20 lakh crore package and other pro business announcement, when announced, appeared like a mirage; however, the experience was quite different and touching!
The low threshold limit in the old definition of MSMEs averts companies from expanding further, which also stops them from enjoying the benefits that are accorded to them by the law. With the emended definitions of MSMEs, they will not have to worry about growing their size and can still avail benefits.
Government should have a policy to create awareness about the businessman and industrialists as national icons. Just to share a really disturbing fact - no Indian entrepreneur has ever been given a Bharat Ratna.
The issue discussed in this article, uses examples related to EPF (Employees Provident Fund) and PT (Professional Tax). But this could equally apply to all the other regulations that a business has to undertake.