“Department of Industrial Policy & Promotion (DIPP) has begun an exercise for issuance of Unique Business Identification Number (UBIN) for budding entrepreneurs to start off their new businesses without any delay”, said its Secretary, Mr. Ramesh Abhishek .
While delivering his remarks on the concluding session at a Seminar on “Is the Corporate Sector Over-Regulated?” under aegis of PHD Chamber of Commerce and Industry here on Saturday, Mr. Abhishek also said that top bureaucracy has been activated by the Prime Minister Mr. Modi to produce results well within targeted time and in India it is no longer a business as usual.
It is in this definite direction that all arms of the government have begun to work in unison and one of its results is also in its paths for issuance of Unique Business Identification Number for the new entrepreneurs, which the DIPP would issue after receipt of related applications, hinted the secretary DIPP.
“This number would automatically be moved on to MCA portal after it is issued to the intended beneficiary and subsequently sent on to the CBDT which would nomenclature it as PAN for Unique Business Identification Number”, said Mr. Abhishek.
On the issue of ease of doing business and minimum government and maximum governance, the Secretary held that after the new government came in to power, bureaucracy has been activated so much that it has become target oriented as each month the PMO is undertaking a review monitoring meetings on projects implementation. It is on account of this push that the coal and railway projects that have been languishing for approvals and executions for decades are now in the process of implementation in various states.
In his welcome remarks, President, PHD Chamber, Dr. Mahesh Gupta demanded several amendments in the existing Companies Act, particularly emphasizing the government permission for closely held company’s director for availing of loans from its holding units as such entities barely get financial funding from lending institutions.
In his vote of thanks, the Secretary General, PHD Chamber, Mr. Saurabh Sanyal complimented the DIPP for aggressively progressing on the front of improving upon ease of doing business in India as it would lead to spurring up manufacturing and make in India.
Among other who were also present earlier on the occasion consisted of the Regional Director (Northern Region), Ministry of Corporate Affairs, Mr. A K Chaturvedi, Managing Director & CEO, BSE India, Mr. Ashish Chauhan, Council Member, Institute of Company Secretaries of India, Mr. Satwinder Singh; Council Member, Institute of Cost Accountants of India, Mr. Vijender Sharma; Chairman, Corporate Affairs Committee, PHD Chamber, Dr. Lalit Bhasin.