New CRC To Propel Ease Of Doing Business

Government is in no mood to leave any stone unturned to make better place to do and start business. In line with the vision of PM Narendra Modi to jack up India in the ladder of “ease of doing business” Ministry of corporate affairs has now launched Central Registration Centre (CRC) and new Government process Re-engineering (GPR) initiative has also been launched. Prime objective of CRC is to give brisk pace to the company incorporation related services. If government claims are to be believed then incorporation in India would now be in line with the international best practices and incorporation and all its services would complete strictly in a stipulated time frame.

Under GPR initiative three pronged approach has been followed that will push for more automation of various approval processes and for this advance software tools and engines are being used. Ministry is also engaging professionals so that manual scrutiny process of Ministry of Corporate affairs will be further expedited. As per sources in the ministry various complex rules are also been rationalized and modified to further push ease of doing business in the country.

Work of CRC will start from January 27 and in the first phase it will process “applications for name availability (INC-1 e-forms) submitted on line across the country. Our aim is to process this application positively by the end of next working day,” marks ministry official. Ministry is planning to roll more services in second phase soon in a progressive manner.

Importantly PM Modi aggressively putting focus on ease of doing business and anyhow improving the ranking of India in the World Bank’s ranking methodology, where it currently sits at 130th spot.  GPR has been initiated in line with that aim and with this it is believed that companies and startups would be given more ease in starting and running their companies in India. Going forward GPR would result in speedier processing of incorporation related applications, uniformity in application of rules, eradicating discretion. Also ministry is trying to provide timely approvals by supplementary monitoring of cases.