Five more states ease trade reforms

The Finance Ministry said on Saturday that 20 states have completed ease of doing business.

States completing the reforms are eligible to borrow additional 0.25% of the gross state domestic product (GSDP).

He said, “The number of states successfully completing the ‘Ease of Doing Business’ reforms has risen to 20. Five more states namely Arunachal Pradesh, Chhattisgarh, Goa, Meghalaya and Tripura have completed the ‘Ease of Doing Business’ offers”. Department of Expenditure, “the ministry said in a statement.

The Department of Expenditure has allowed these 20 states to raise additional financial resources of ₹ 39,521 crore through open market lending.

Ease of doing business is an important indicator of favorable climate of investment in the country. Improvement in ease of doing business will lead to rapid development of the economy of the state.

Therefore, the government of India decided in May 2020 to link the grant of additional borrowing permissions to states that improve for ease of doing business, the ministry said.