BJP-PDP Government has cracked the code of improvement for Jammu & Kashmir in Ease of Doing Business ranking under initiative for the current financial year for implementation by the Department of Industrial Policy and Promotion (DIPP) of the Union Ministry of Commerce and Industry in partnership with the World Bank Group released the Business Reform Action Plan (BRAP) by all the States and Union Territories.
The last date for uploading business reform replies/proof was November 7, 2017 and J&K has successfully implemented 270 recommendations and uploaded 262 replies out of total 372 recommendations, reported in Daily excelsior the news report also discloses that as per the dynamic ranking by the Department of Industrial Policy and Promotion (DIPP) J&K stands at 22nd rank with 12.71 points as on date.
While the rise in Jammu & Kashmir’s ease of doing business rank from 31st in 2017 to 22nd in 2018 is welcome, it is also stated in report that J&K’s ranking will improve further by December 31, 2017 when the process of analyzing the performance by the DIPP and World Bank Group will come to an end, mentioned in news report, “the DIPP has till date approved 56 replies out of 262 uploaded by the J&K while as it has sought clarification on 96 replies. Moreover, 110 replies are still pending for evaluation”.
Describing this as a significant jump in Ease of Doing Business ranking, report states that during last financial year J&K was ranked 31st in the final ranking by the DIPP, which in partnership with the World Bank Ground had proposed 340 point recommendations spread across 10 reform areas in Business Reforms Action Plan 2016.
It is pertinent to mention here that Ease of Doing Business is an index published by the World Bank and it is an aggregate figure that includes different parameters which define the East of Doing Business. The ranking on the index is based on the average of 10 sub-indices, which include starting a business; dealing with construction permits; getting electricity, registering property; getting credit; protecting investors; paying taxes; trading across borders; enforcing contracts and resolving insolvency.
While there has been substantial progress, Jammu and Kashmir still lags in areas such as Starting a Business, Enforcing Contracts, and Dealing with Construction Permits.
The DIPP has taken up a series of measures to simplify and rationalize the regulatory processes (registration and inspection processes) and introduction of information technology as enabler to make governance more efficient and effective.
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A 98-point Action Plan for improving the regulatory framework for business as part of Ease of Doing Business was finalized at National Workshop of ‘Make in India’ held on December 29, 2014. The assessment, first of its kind, is promoting both competitive and cooperative federalism among the States and the Union Territories.