Government has Implemented Series of Reforms to Simplify Corporate Compliance, Reduce Costs and Promote Ease of Doing Business for MSMEs and Startups

Government has Implemented Series of Reforms to Simplify Corporate Compliance, Reduce Costs and Promote Ease of Doing Business for MSMEs and Startups

The Government of India has been taking several steps towards simplifying corporate compliance burdens and reducing costs for all companies including Micro, Small, and Medium Enterprises and Startups.

The important measures taken in this regard in 2024-25 are as under:

The Government of India has undertaken a number of steps to ensure the quick registration of companies and their approvals in India.

These initiatives are as under:

The application process for startup recognition under the Startup India initiative has been streamlined and made entirely digital through an interactive Startup India portal and the National Single Window System (NSWS) making the same accessible from any part of the country. The documentation process for recognition is simplified with self-certification. Recognition handbook and tutorials have also been developed and uploaded on Startup India portal for ease of navigating recognition process. To promote startup recognition and to handhold entrepreneurs, workshops are held across States/UTs with support of State/UT nodal agencies for startups, and regional stakeholders such as incubators.

The action for amendment in Companies Act, 2013, LLP Act 2008 and Rules made thereunder is taken from time to time on the basis of inputs received from stakeholders and the recommendations of the Company Law Committee.

This information was given by the Minister of State in the Ministry of Corporate Affairs; and the Minister of State in the Ministry of Road, Transport and Highways, Shri Harsh Malhotra in a written reply to a question in Rajya Sabha today.