MSMEs: Making business easy: A template to ramp-up state capacity indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
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At 2 lakh+ Micro, Small and Medium Enterprises (MSMEs), the sector forms the backbone of manufacturing in Punjab, and has witnessed focussed efforts from the state government in promoting its growth.. For instance, last year, the state passed the Punjab Right to Business Act 2020. The Act aims to enable ease of doing business (EoDB) for the newly-incorporated MSMEs through an enabling ecosystem for self-declaration, exemptions, speedier approvals, and inspections to establish and operate in the state. In addition, it has also implemented reforms such as removing imprisonment terms, building flexibility and reducing oversight in labour rules, and pursuing a data-driven assessment of service delivery delays. These efforts are aimed towards facilitating a seamless regulatory environment for MSMEs and thereby making entrepreneurship easier in Punjab.
Punjab,: Capt. Amarinder Singh, Hon’ble Chief Minister of Punjab today announced a slew of reforms the State Government has initiated to reduce the regulatory burden on MSMEs in Punjab. The reforms are based on the GAME EoDB Taskforce’s report titled “Transforming EoDB for MSMEs in Punjab”, which proposed data-informed regulatory changes to rationalize, digitize, and decriminalize the regulatory landscape. GAME signed an MoU in November 2020 with the Government of Punjab to showcase the state as an ‘Ease of Doing Business for MSME’ lighthouse in partnership with Omidyar Network India, an investment firm focused on social impact, under their ReSolve Initiative.