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  • 7/27/2019 GoI Plans Corporate Seva Kendra - _ the Calibre

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    3/11/13 GoI plans Corporate Seva Kendra - | The Calibre

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    3/11/13 GoI plans Corporate Seva Kendra - | The Calibre

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    Category : Econom y & Busin ess | In-depth , In-depth

    Current Affairs

    permal ink

    Tagged under:

    Eco nomic S low do w n, Foreign d irect inv es tment,

    Foreign ins titutional inves tment, Inves tm ents

    The latest development

    In order to make it easier to do business in India, the government is planning to set up a

    corporate call center for faster information dissemination and grievance redressalservices to companies and other stakeholders.

    This this call center is to be called Corporate Seva Kendra.

    The Corporate Affairs Ministry is targetting to set up this call centre by September 2013.

    Object of the initiative

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    3/11/13 GoI plans Corporate Seva Kendra - | The Calibre

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    This call center would provide a wide range of information to the stakeholders and would

    answer their queries about corporate filings, information and statutory requirements.

    The Corporate Seva Kendra is being set up as part of the Ministrys objective to put in

    place a system for online delivery of all registry related services with speed, certainty and

    transparency.

    Significance if the move & why it is needed today

    The proposed center is part of the Ministrys target agenda for the next fiscal 2013-2014.

    The initiative is part of the governments efforts to strengthen interactions with

    corporates and ensure faster compliance with various requirements, amid concerns over

    the companies finding it difficult in doing business here.

    As per an Ease of Doing Business ranking of the World Bank, India is placed very low at

    132nd position among a total of 185 countries.

    India is the lowest ranked country on this list among the four BRIC nations (Brazil,

    Russia, India and China), while it is also ranked below neighboring Pakistan and Nepal.

    The present initiative will help creating an investor friendly environment in India. Among

    other things, the ailing Indian economy certainly needs large infusions of investment

    which would contribute to accelerate growth and contain CAD.

    Other related developments

    Lately, the Government has conceded that regulations should act as enablers for

    investments, and should not be draconian in nature. India needs to take steps to make

    India a safer and better place for investment.

    A significant development has been that the Ministry of Corporate Affairs appointed

    panel, headed by former SEBI chief M Damodaran, to look into ways to improve the

    countrys business climate is expected to submit its report by end of March 2013.

    In the next fiscal beginning April 1, the Ministry of Corporate Affairs will also look at

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    simplifying laws that govern draft of rules to facilitate effective compliances by corporates

    and ensure enlightened regulatory regime.

    To create more awareness among corporates as well as investors, the Ministry is already

    carrying out various initiatives.

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