In a bid to encourage start-ups, government is taking steps that will exempt them from various rules and regulations till they achieve a particular turnover, a top official said today.
Lots of start-ups are coming up in the country and there is a need to provide them a conducive environment for their growth, Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant said. Talking about ease of doing business, Kant said the government has taken several steps to improve India's ranking.
India is currently ranked 142nd among 189 nations in the World Bank's Ease of Doing Business 2015 study. With the exception of two parameters (getting credit and protecting minority investors), India does not feature in the top 100 in the remaining parameters.
In 'dealing with construction permits' and 'enforcing contracts' parameters, India ranks among the bottom.