Which digital initiative improved India's Ease of Doing Business (EoDB) in 'Starting a Business'?
Show answer & explanation
Correct answer: D
Explanation
Answer: MCA21
Explanation:
MCA21 is an e-governance initiative of the Ministry of Corporate Affairs. It has significantly improved India's ranking in the 'Ease of Doing Business' (EoDB) index—specifically in the 'Starting a Business' category—by rendering the company registration process in India completely digital and paperless. Through this platform, facilities such as digital signatures, online forms (e.g., SPICe+), and electronic payments are provided, resulting in a reduction in both time and cost. This portal has also strengthened corporate compliance and transparency.
Additional Points:
Udyam Portal: This is primarily designed for the registration of Micro, Small, and Medium Enterprises (MSMEs).
Digital Locker: This enables citizens to securely store and share their important documents digitally on a cloud-based platform.
GST Portal: This serves as an integrated platform for the registration, return filing, and payment of Goods and Services Tax (GST).
Potential Exam Questions and Answers:
Question: Which new report has replaced the 'Ease of Doing Business' report previously published by the World Bank?
Answer: The B-READY (Business Ready) Project.
Question: What is the SPICe+ form used for?
Answer: For the registration of a company's name, PAN, TAN, and EPFO—all within a single application.