Source: News Bharati English06 Oct 2016 19:25:51
New Delhi, Oct 6: To achieve the goal of ease of doing business regulatory hurdles needs to be addressed at lower levels of governance said Minister of State for Commerce and Industry Nirmala Sitharaman.
She was speaking at the India Economic Summit of the World Economic Forum. "While foreign direct investment (FDI) flows to India have increased significantly, the focus has to be that these flows translate into job creation," she said.
She further added that with the India is blessed with demographic dividend Where million individuals entering the labour force every month but creating productive jobs is perhaps the biggest challenge the country is facing said Sitaraman.
Advocating the ecosystem for ease of doing business Sitaraman said that, Use of technology, transparent processes and ease of doing business will help India pull off 8 per cent growth over the next couple of decades.
She further said the government is working on three important pillars, including the goods and services tax, JAM (Jan Dhan, Aadhaar and Mobile) and ease of doing business to promote growth and investments.
The government is using technology to remove corruption and bring in transparency, the minister said, adding that "we need to work harder and we need to take the states on board and we are working together".
In the next 4-5 months, "our attention would be to work together with them, take out all those which are obstructionists and ensure businesses feel far more assured that the ease is actually coming in" she added.