Measures like GST roll-out and single window clearance for project approvals, replacing prototype labour regulations, will improve flow of credit to infra sector and help India achieve 'ease of doing business' ranking of under 50 by 2020, according to a PHD Chamber study.
The study -- released today by Ajay Shankar, Chairman, Expert Committee for suggesting Simplified Compliance for Establishing New Industries, Ministry of Commerce & Industry -- points out that the suggested reforms along with announcements by the government will help India significantly improve its ease of doing business scenario.
According to it, 52 per cent of the respondents are optimistic that Make in India programme has facilitated ease of doing business in the economy and place it on higher and sustainable growth trajectory in coming times. However, 48 per cent stated that although the programme is appreciable, reforms are not yet visible on ground level and the government needs to do a lot more for implementation of reforms.
It also revealed that there are few obstacles that still affect the businesses and the most severe being administrative bottlenecks followed by government regulations, delays in environmental clearances, power and water shortages. The other major problems faced by the businesses that need to be addressed are infrastructural bottlenecks, corruption, high capital cost, taxation problems, access to land, increasing borrowing and labour cost, among others.