Latest news with #EoDB
New Indian Express
3 hours ago
- Business
- New Indian Express
Ease of Doing Business cell launched in Karnataka
BENGALURU: In a bid to support the state's growing network of Global Capability Centers (GCCs), Minister for IT/BT and Electronics Priyank Kharge launched KATALYST, an Ease of Doing Business (EoDB) cell on Monday. The initiative, aligned with the state's GCC Policy 2024-29, will serve as a single-window platform to streamline new investments and fast-track approvals. The announcement came on Monday during a CEO Breakfast Meet hosted by Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar, which brought together over 200 industry leaders from various sectors, ahead of the Bengaluru Tech Summit (BTS), scheduled for November 18-20. Siddaramaiah said Karnataka remains India's largest software-exporting state, contributing 44% of the country's software exports and the government's goal is to add 500 more GCCs by 2029, creating 3.5 lakh jobs and generating $50 billion in economic output. He added that new tech clusters will be developed outside Bengaluru to ensure balanced growth. Outlining Karnataka's vision, the CM said, 'We want the state to be the place where the world comes to solve its biggest challenges - whether it is curing diseases, developing sustainable energy solutions, or building computers of the future. We will provide the talent, infrastructure, and policy support.' Shivakumar said the upcoming BTS-2025 should send a strong message to the world about the city's global standing in the IT sector. He highlighted Prime Minister Narendra Modi's recent visit to inaugurate the Namma Metro Yellow Line, noting that the PM had acknowledged Bengaluru's status as a 'global city'. He credited former CM SM Krishna's IT policy for laying the foundation for this growth. Appealing to companies, Shivakumar urged them to direct their CSR funds towards developing government schools in rural areas. 'Don't give us money, build the schools directly. If you give us money, you will have to pay 18% tax on it,' he said. With 50,000 government teacher posts vacant, Shivakumar said private schools are being encouraged to take responsibility for rural institutions. During the event, Kharge unveiled plans for the 28th edition of BTS and said that the event, themed around 'Futurise', will bring together over one lakh attendees from more than 60 countries.
Hindustan Times
a day ago
- Business
- Hindustan Times
2 new MAITRI panels to boost investments in the state
MUMBAI: To promote industrial development and investments, the Maharashtra government has recently formulated a new mechanism that entails a three-tier system for the timely disposal of investment applications. It encompasses MAITRI (Maharashtra Industry, Trade and Investment Facilitation Cell), an empowered committee, and a supervisory committee. 2 new MAITRI panels to boost investments in the state The committees will facilitate investors, monitor progress of memoranda of understanding, prepare benchmark study reports according to globally recognised best practices, and collaborate with national and foreign embassies, consulates, industry associations, and ministers of other countries to identify potential investors and generate investments in the state, among others. The nine-member empowered committee would be headed by the development commissioner (industries) and chief executive officer (CEO) of Maharashtra Industrial Development Corporation (MIDC), managing director of Maharashtra State Electricity Distribution Company Limited (MSEDCL), and member secretary of Maharashtra Pollution Control Board (MPCB), who will all work with other members. The secretary (Industries) will head the high-level supervisory committee, which will comprise secretaries from departments of energy, labour, environment, revenue, urban development (I), urban development (II), rural development, finance, law and judiciary and food and civil supplies, among other officials. 'As many as 115 services that are related to several state departments are being offered to the investors through the Maitri application, a single window system of the state. Even though the concerned departments are being given a timeframe to dispose of the applications, it gets delayed. With the new system, we have resolved this problem,' said a senior industry official. This system came into effect after the state government framed the Maharashtra Industry, Trade and Investment Facilitation Rules, 2025. A notification towards the same was issued by the state industries department on August 5. The objective is to provide the best ecosystem to investors, as most states are trying to attract investors these days, the officials said. According to the notification, if the competent authority fails to dispose of an application within the specified time limit, then the matter will be automatically transferred to the empowered committee, which will have to dispose of the application within 15 to 45 days. During this time, the empowered committee will ensure execution and compliance of its orders and issue necessary directions to the competent authorities for expeditious actions. 'It will recommend process simplification of procedures and adoption of digital solutions to enhance transparency and promote Ease of Doing Business (EoDB), suggest conducting a comprehensive review of existing procedures to identify areas for streamlining, simplification and elimination of unnecessary steps to enhance efficiency, among others,' states the notification. The empowered committee has also been tasked with evaluation of the impact and reach of marketing campaigns, branding initiatives and promotional materials, reviewing the success of sector-specific initiatives, such as incentives, subsidies, and tax breaks, facilitating the timely and successful implementation of investment MoUs, among others. The supervisory committee will review the actions taken by the empowered committee, assess their effectiveness, provide guidance to ensure timely resolution and compliance, and give explicit guidance to all the competent authorities. Formulating visionary policies, fostering global partnerships, and driving ecosystem-level initiatives to attract sustainable and high-impact investments to have a significant positive impact on a state's economy. Investment promotion initiatives that attract investments and make Maharashtra the most preferred destination for investments globally,' it stated further. The new rules have brought greater responsibilities for MAITRI as the nodal agency of the state. It will have to collaborate with national and foreign embassies, consulates, industry associations, and ministers of other countries to identify potential investors and generate potential investments. 'Conducting roadshows across districts, states, and chosen international destinations in collaboration with MIDC; setting up of country desks or sectoral analysis to determine global sectoral trends; establish connections with venture capitalists or angel investors; establish connect with Marathi diaspora living abroad and encourage them to invest in the state; create and promote a platform to establish buyer-seller connect and facilitate investors for setting up their businesses in Maharashtra by publishing information on 'land bank' in association with MIDC,' the notification stated.
Time of India
5 days ago
- Time of India
EoDB push: T to soften punishments for minor offences across depts
Hyderabad: In a major reform initiative, the Telangana govt is working to decriminalise and deregulate select provisions across various departments, aiming to simplify governance and promote ease of doing business (EoDB). As many as 17 state departments across 23 sectors are involved in this effort, which aligns with the Jan Vishwas (Amendment of Provisions) Act, 2023, and broader national reform goals. While departments such as forest, labour, and municipal administration have already submitted preliminary proposals, others are in the process of finalising theirs. Central Acts will be handled by the Union govt, while amendments to state laws will be implemented by the state. For instance, the Telangana forest department has proposed removing imprisonment clauses for certain minor offences, replacing them with enhanced monetary penalties. Under the existing Telangana Forest Act, 1967, offences such as tree felling on private land, forest trespass, and encroachments can lead to jail terms ranging from one to six months — often affecting farmers and tribals near forest areas. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Under the proposed amendment, tree felling may attract a fine of up to Rs 10,000 — with provisions for sealing timber depots or sawmills found in violation — instead of jail time. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Write Better, Work Smarter With This Desktop App Grammarly Install Now Undo A senior forest official said: "The state will amend the Telangana Forest Act, while central Acts such as the Wildlife Protection Act and Forest Conservation Act will be addressed by the Centre." Some reforms under the Jan Vishwas Act have already been enacted at the central level. Meanwhile, the industries department, the nodal agency for EoDB, is encouraging departments to decriminalise minor infractions and simplify compliance to attract foreign investment. Recognising that certain financial penalties may be viewed as criminal sanctions under international law, some clauses are being relabelled as 'fees' rather than fines. A senior official from the department told TOI, "The municipal administration department and the Hyderabad Metropolitan Development Authority are working on flexible zoning and building regulations. At present, even industrial units must allocate 33% of land for setbacks, parking, and open spaces, which is a significant disincentive for multinational companies." Maharashtra was one of the early movers in decriminalisation efforts, while Gujarat implemented wide-ranging reforms under EoDB. Karnataka focused on decriminalising violations in Municipal and Industrial Development Acts. While streamlining regulatory processes and compliances, Uttar Pradesh reduced criminal liability under its industrial and municipal laws. The Telangana industries department is also pushing to streamline labour laws. Currently, establishments that breach working hour norms face criminal penalties. Proposed amendments aim to reduce these penalties and convert them into administrative fees. Additionally, the labour department is working to allow 24x7 operation of commercial establishments, with provisions for shift-based employment. In a parallel development, the state govt is also preparing to amend recruitment rules to enable employment of persons affected by leprosy, in compliance with a Supreme Court directive. The law department has asked all departments to submit details of posts currently not available to such individuals, with a view to tabling relevant legislation in the upcoming assembly sessions. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and s ilver prices in your area.
India.com
6 days ago
- Business
- India.com
Richest district in Uttar Pradesh, its per capita income is higher than Japan, not Ghaziabad, Lucknow, Kanpur, Agra, the name is...
यूपी का सबसे अमीर शहर लखनऊ नहीं... New Delhi: Uttar Pradesh, under the leadership of Chief Minister Yogi Adityanath, has witnessed massive transformation. From 2017 to 2024, UP's transformation is nothing short of remarkable. The state has shifted from being a 'Performer' to a 'Top Achiever' in EoDB. The Yogi government is working relentlessly to change the state's business environment and make it an investor's heaven. In 2017, Uttar Pradesh was a mere 'Performer' in the EoDB rankings, but by 2022-23, it had ascended to the prestigious 'Top Achiever' status. This leap is no small feat, especially considering the complexities of achieving such a rank There is a district in Uttar Pradesh whose income has surpassed that of Japan. All you need to know about the district: Gautam Buddh Nagar, which includes Noida and Greater Noida, is the richest and fastest-growing district in Uttar Pradesh. The income level in Gautam Buddh Nagar (based on Purchasing Power Parity or PPP, which takes the cost of living into account) is now being compared to that of developed countries like Japan. Gautam Buddha Nagar district is now the largest industrial district in Uttar Pradesh. Many companies are located in Noida. Noida is one of the fastest-growing and most developed cities in the country. It is also known for business, engineering, and technological advancement. According to a report by The Times of India, the per capita income in Gautam Buddha Nagar is Rs 10.17 lakh, which is ten times higher than the state average. In the financial year 2023–24, Gautam Buddha Nagar's GDP was Rs 2.63 lakh crore, accounting for more than 10% of Uttar Pradesh's total economy and nearly double that of Lucknow's economy. The per capita income of some districts in eastern Uttar Pradesh—such as Pratapgarh, Jaunpur, and Ballia—is so low that it is comparable to that of poor countries like Afghanistan or Mali. The income levels of Gautam Buddha Nagar are approaching those of developed countries It is important to note that there is a significant disparity in Uttar Pradesh's economy. The top five districts — Gautam Buddha Nagar, Lucknow, Ghaziabad, Agra, and Kanpur — together contribute more than 25% to the state's GDP. In contrast, the bottom five districts contribute less than 2.5 percent.
Fibre2Fashion
05-08-2025
- Business
- Fibre2Fashion
India's MSME confidence index rises to 63.75 in Q1 FY26: SIDBI
India's Composite MSME Business Confidence Index (M-BCI) for the first quarter (Q1) of fiscal 2026 (FY26) rose to 63.75 from 60.82 in the previous quarter, according to the MSME Outlook Survey. This uptick reflects a favourable business environment for MSMEs, with the manufacturing and trading sectors experiencing sharper improvements. India's MSME confidence rose in Q1 FY26, with the M-BCI at 63.75 and M-BEI at 62.19, signalling improved sentiment, especially in manufacturing, trading, and services. Sales, profits, finance access, and skilled labour availability improved. Capacity use rose, while EoDB and interest rate outlook showed positive trends, per SIDBI's pan-India MSME survey. The Composite MSME Business Expectations Index (M-BEI) stands at 62.19 for the next quarter and rises to 67.88 for the corresponding quarter next year. Although a moderate dip in the expectation indices is observed for Q2 FY26, the quarterly publication by the Small Industries Development Bank of India (SIDBI) revealed. In terms of sales performance, more than half of the MSMEs in the manufacturing and trading sectors reported growth in Q1 FY26. Year-on-year, MSMEs across all sectors indicated consistent sales growth, with around 60 per cent expecting further expansion over the next year. Despite a reported increase in input costs, MSMEs across sectors experienced improved net profit margins. The availability of skilled labour showed a notable improvement. Nearly one-fourth of MSMEs across all sectors reported better availability of skilled workers. Capacity utilisation among respondents improved during the current round, with nearly a fifth reporting above-normal utilisation levels in both manufacturing and services. This momentum is expected to carry forward, with nearly 29 per cent projecting a further increase in capacity utilisation over the next year. Access to finance also improved, with 88 per cent of participating MSMEs confirming the availability of overall finance—up from 79 per cent in the previous survey, SIDBI said in a media release. The survey suggests a gradual improvement in the interest rate environment, with fewer respondents reporting a rise in the cost of finance compared to the previous round. MSMEs, nevertheless, remain concerned about high financing costs. The recent 100 basis point reduction in the RBI's benchmark repo rate since February 2025 indicates a positive trend, with interest rate transmission underway, which is expected to ease financing challenges for MSMEs. The current survey also highlights an improvement in the Ease of Doing Business (EoDB). Around 50 per cent of respondents across sectors reported a better EoDB experience during Q1 FY26. Expectations for the future are equally positive, with more than 60 per cent anticipating further enhancements over the next year. In particular, about 50 per cent noted improvements in return filings and periodic compliance procedures. The indices, ranging from 0 to 100, reflect MSME sentiment and are based on six key parameters including sales, margins, labour, and finance availability. The current round is based on inputs from a representative sample of 1,200 MSMEs across different regions and industries. Fibre2Fashion News Desk (HU)
