Harleen Kaur Grewal
New Delhi, February 18, 2021: 15 states have successfully completed the Ease of Doing Business (EODB) reform process. Now, it will be very easy to do business in these states. Here, businessmen will not have to renew their licenses every year.
The renewal system has been scrapped under this reform. States have also benefited from adopting the EODB reform process. These 15 states have been allowed to raise an additional loan of Rs 38,088 crore. This was offered by the Center to the states in Corona times.
States that have completed the EODB reform process will have to implement a computerized central surprise inspection system. Under the Acts, inspectors are posted centrally. That inspector will not be allowed to inspect in the same unit in later years. The businessman will be provided with information prior to the inspection and it will be necessary to upload the report within 48 hours of the inspection.
According to the Finance Ministry, Gujarat, Uttar Pradesh, and Uttarakhand have reported completion of ‘Ease of Doing Business’ reforms. These states are allowed to raise additional debt from the open market after getting the green signal from the Department of Industry and Internal Trade Promotion (DPIIT).
Earlier, Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Tamil Nadu, and Telangana also reported completion of the reforms, which was confirmed by DPIIT.