GPR initiatives to enhance “ease of doing business" launched

Key highlights:

• Introduction of Reserve Unique Name web service for name reservation from Jan 26, 2018
• Zero fee for incorporation of all companies with authorized capital upto Rs 10 lakh
• Re-engineering the process of allotment of DIN by allotting it through the combined SPICe form 

To enhance the “Ease of Doing Business –Starting a Business” in the country and benefit a large number of stakeholders, the Ministry of Corporate Affairs (MCA) is launching the government process re-engineering (GPR) initiatives for making the incorporation process speedy, smooth, simple and reducing the number of procedures.

On the occasion of 69th Republic Day, the Ministry has unveiled the following initiatives for starting a business.

(i)  Introduction of “RUN – Reserve Unique Name” Web service for name reservation, which will be launched on January 26, 2018.
(ii) Zero fee for incorporation of all companies with authorized capital upto Rs 10 lakh.
(iii) Re-engineering the process of allotment of DIN by allotting it through the combined SPICe form only at the time of an individual’s appointment as director (in case he/she doesn’t have a DIN).

The initiative comes in the wake of the government's commitment to achieve a position in the top 50 countries for “Doing Business” as per the rankings published annually by the World Bank. 

During the past three years, the Ministry has contributed significantly towards improvement of ranking in Ease of Doing Business in the country, but there is a lot more scope to further improve, especially with respect to starting a business, the statement said.

According to the MCA statement, the feedback provided by various stakeholders on the effectiveness of the implementation of initiatives taken by government of India is considered as a major input during the survey conducted by the World Bank. 

"During the last assessment year, this Ministry had undertaken major initiatives such as establishing the “Central Registration Centre (CRC)” for delivering speedy incorporation related services and near real time issuance of PAN & TAN through a single on-line process," the statement said. 

This was achieved by the launch of the simplified proforma for incorporating company electronically (SPICe) which delivers five services by two different Ministries through a single form filed on the MCA21 Portal, the MCA statement added.