The BJP-led NDA government today announced in the Lok Sabha that a Bill shall be introduced in the current Budget session of Parliament to amend the Companies Act 2013 to promote ease of doing business, particularly for startups. 

The registration of companies will also be done in one day, Finance Minister Arun Jaitley said while presenting the General Budget for 2016-17 in the Lok Sabha.

NEW DELHI: The Internet & Mobile Association of India (IAMAI) said that that the proposal for Amendment of Companies Act to register startups in one day is a welcome move, and it is a step towards ease of doing business in India. 

"The focus on leveraging technology to streamline distribution and the proposed steps for ease of doing business in India are indicative of the government's resolve towards Digital India and supporting entrepreneurship," Subho Ray, President, IAMAI said. 

Finance Minister Arun Jaitley tabled his third successive Union Budget 2016-17 today. The main thrust of the indirect tax proposals seems to be around ‘Make in India’ and ‘Ease of doing business’ including reduction in litigation, simplification in tax administration and tax compliances. While in the last Budget there was significant emphasis given to the GST reform, there was no discussion on the status and progress of GST in the current Budget.

The single biggest change is the levy of Krishi Kalyan Cess at the rate of 0.5% with effect from 1 June 2016. This will effectively increase the service tax rate to 15% from 14.5%.

Twenty-five years ago, there would have been no interest in a subject such as the ease of doing business in India. What mattered then was the level of protection the closed economy provided and the ability to negotiate industrial approvals from Udyog Bhawan. Much water has since flown down the Yamuna. India has a more market-centric economy; there is a high degree of openness to foreign investment; business decisions are taken mainly on commercial considerations and the ability to compete in the marketplace; capital and technology move globally in search of friendly and salubrious environments. Inevitably, the ease of doing business becomes an important consideration for those looking for investment opportunities. 

Union Budget announcements, combined with global cues, especially crude oil prices and rupee movements will chart the equity markets' next course. Market observers predicted that stock prices will be driven by budgetary announcements, especially on how the finance minister balances the goals of fiscal consolidation and revival of private investments.

"The economic survey has raised some hope of a reforms oriented budget. Outright populist measures would dent credibility of the government," predicted Devendra Nevgi, chief executive of ZyFin Advisors.

New Delhi: An expert committee set up by the Department of Industrial Policy and Promotion (DIPP) has recommended credible third party certification in most areas of government regulation to further facilitate ease of doing business in the country. :normal'>New Delhi: An expert committee set up by the Department of Industrial Policy and Promotion (DIPP) has recommended credible third party certification in most areas of government regulation to further facilitate ease of doing business in the country.

Headed by former DIPP secretary Ajay Shankar, the committee whose report was released on Friday night said once government allows third party certification, multiple players could emerge within a year’s time. As a deterrent, however, the committee suggested that some percentage of such certification should be subjected to random audit with stiff penalties leading up to even withdrawal of accreditation for laxity.

Describing India as "a haven of stability" in a turbulent global economy, President Pranab Mukherjee on Tuesday said the government has simplified procedures for approvals, repealed obsolete laws and put in place a non-adversarial tax regime to attract investments.

Addressing the joint sitting of Parliament at the start of the Budget session, the President listed out achievements of the Modi government, saying India has jumped 12 places on the ease of doing business ranking of the World Bank while foreign investment inflow has risen 39 per cent.

Budget 2016: Most water-cooler conversations in February are centred on Budget expectations. The finance minister may use Budget FY17 as an opportunity to bring in changes in the service tax regime, aligning it with GST. The government may raise the rate of service tax to 16-17% to bridge the gap between the current service tax rate and proposed GST rates. The Budget may rationalise exemptions available under service tax to align with the minimal proposed exemptions under GST. With the increase in rate and taxable base widened, the Budget may alter other areas to keep up with its mantra of ease of doing business. For example, service tax exemption threshold may be raised from the current Rs 10 lakh to a more substantial Rs 25 lakh. This will provide respite to small businesses.