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OVERVIEW

Today the world is looking at India and Angel Tax, and lowering World Bank’s Logistic Performance
as an attractive destination for corporate tax. The National Single Index (LPI) 2023, now ranking 38th in
investment and global companies Window System now allows the 139 countries index.
want to establish businesses here. obtaining all approvals through This is a strong indicator of India’s
There is wholesome appreciation a single platform. Moreover, the global positioning, with this
for Prime Minister Narendra Modi government has reduced development being powered by
Modi’s thrust for transformative unnecessary compliance burden by the Government’s laser focus on
governance and economic reforms repealing more than 1,500 archaic reforms for improving logistics
to enhance the Ease of Doing laws and thousands of compliances. infrastructure through initiatives
Business in India. This has helped These used to create unnecessary like PM Gati Shakti and new National
both existing, as well as new costs and hurdles for Indian Logistics Policy.
businesses and entrepreneurs to enterprises.
invest and set up businesses in The thrust towards greater
India. One of the greatest examples The Prime Minister’s mantra transparency & a level-playing field
of improvement in the business of transparency and reducing for MSMEs and small businesses
climate of the country can be seen compliance requirements is exemplified by the success of
in it’s startups. Before 2014, India demonstrates a government that the GeM portal, the government
had around 350 StartUps. Over trusts its citizens. This trust is being purchases through which have
the last nine years, encouraged by reciprocated in the rising number of crossed Rs 4 lakh crore.
schemes such as StartUp India, there taxpayers and record tax collections.
has been a 260 fold increase in the Similarly, promoting self-regulation, Apart from numerous reforms and
number of StartUps. Moreover, the self-certification, computerised landmark decisions, Prime Minister
country today is home to over 100 random labour inspections and Narendra Modi has successfully led
Unicorns. faceless assessment/appeal in a mindset transformation. Unlike
taxes has not only dealt a blow to previous governments, the Modi
Since 2014, rent-seeking and ‘Inspector Raj’ but also improved government not only considers
red-tapism have been replaced compliance. entrepreneurs as wealth creators
by a red carpet. The government but also as partners in national
is not an obstacle in the path of India’s efforts to improve the development. Concerted efforts to
risk-takers but is an active enabler. ease of doing business are improve the Ease of Doing Business
Entrepreneurs and investors being acknowledged on the have led to a historic expansion in
in India are now delighted by a global stage. This is evident in the pool of wealth creators. This has
business-friendly environment consistent improvement in various had a butterfly effect on the country
and a government that actively international rankings. For instance, at large- it has increased resources
addresses their concerns and the country’s ranking in the World available to the government for
redresses grievances. This paradigm Bank’s Ease of Doing Business Index it’s welfare and development
shift has been made possible surged from 142 in 2014 to 63 in programmes, while at the same time
through landmark decisions such 2019. enabling job creation, and higher
as removing retrospective taxation, India has climbed six places on the incomes in the country.
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84 9 Years - Seva, Sushasan, Garib Kalyan