NICMAR

Government appoints IIFT, ICAI, NICMAR to improve World Bank’s ‘Doing Business’ ranking

The Union Commerce and Industry ministry has appointed four institutes to interact with stakeholders and suggest measures to push India’s ranking in World Bank’s Ease of Doing Business Index. They are National Institute of Construction Management and Research (NICMAR), Indian Institute of Foreign Trade (IIFT), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI).

Key Facts

The Union Commerce and Industry ministry has appointed four institutes to interact with stakeholders and suggest measures to push India’s ranking in World Bank’s Ease of Doing Business Index.
These are National Institute of Construction Management and Research (NICMAR), Indian Institute of Foreign Trade (IIFT), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI).
These four institutes will take views of respondents on parameters which are taken into in ranking process.
They will then share feedback with concerned ministries. The guidelines include – starting business, dealing with construction allows, registering property, getting electricity, protecting minority investors, getting credit, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
ICAI will look into paying fees parameter while ICSI and IIFT will work on starting a business and trading across edges respectively. NICMAR will collate feedback on working with structure permits.
The move will help further push India’s ranking. Improvement in ease of doing business will help attract more investments by ensuring a better business climate for investors
As per the latest World Bank’s CONDUCTING BUSINESS ranking 2017, India’s position had improved by 30 places to 100th. The government wants India to figure within top 50 in the coming years.
In the 2018-19 Budget speech, Finance Minister Arun Jaitley had stated that to further improve ease of doing business, the government has identified 372 action points for states which they will carry out in a mission mode. Business and industry ministry has appointed four institutes, including IIFT and ICAI, to connect to stakeholders and suggest procedures to push Indias rating in ease of conducting business index, an official said.

The National Institute of Construction Management and Research (NICMAR), the Indian Institute of Foreign Trade (IIFT), the Institute of Company Secretaries of India (ICSI) and the Institute of Chartered Accountants of India (ICAI) are the four institutes that have been roped in for the exercise.

According to the latest World banks Doing Business position, Indias position improved by 30 places to 100th. The federal government wants India to find within top 50 in the arriving years.

“We have appointed these four observers. They would take views of respondents on the variables which are taken into in the rank process. We would then share the opinions with the concerned ministries, ” said an authorities established, who did not wish to be named.

The parameters include – starting a company, coping with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

While ICAI would look into the paying taxes parameter, ICSI and IIFT would work on starting a business and trading across borders respectively.

Similarly, NICMAR would collate feedback on dealing with construction permits.

The move would help further push Indias ranking.

In the Budget speech, Finance Minister Arun Jaitley has said to further improve simple doing business, the government has recognized 372 action points for states which they would carry out in a mission mode.

National Institute of Construction Management and Research (acronym NICMAR) 

Ease of Doing Business

The National Institute of Construction Management and Research (acronym NICMAR) is a non profit management institute and research centre in the field of construction engineering and management. The Institute has been acknowledged by the Section of Scientific and Industrial Research, Ministry of Research and Technology, Federal government of India as a Scientific and Industrial Research Firm (SIRO) and is headquartered at Walchand Centre, Tardeo, Mumbai, India. Main campus being at Pune, Maharashtra.

Youtube Lectures

All Current Affairs List

Leave a reply:

Your email address will not be published.

Sliding Sidebar