India Inc has exciting opportunities to tap in its Viksit Bharat journey
₹1.03 trillion till November 2023, resulting in production/sales of ₹8.61 trillion and employment generation of over 678,000. Third, several measures have been taken to improve the ease of doing business. These include liberalized foreign investment rules and the launch of a unified tax system, GST.
Over 3,600 rules of compliance have been freed of criminal-failure risk and 41,000 have been reduced by various ministries/departments and states/ Union territories. The Jan Vishwas (Amendment of Provisions) Bill, 2023, has been passed by Parliament. Further, a national single window system has been introduced to simplify government-to-business (G2B) clearance processes across ministries.
For easier business exits, we now have the Insolvency and Bankruptcy Code. Fourth is India’s digital revolution. The country has witnessed an exponential increase in digital penetration on the back of the ‘JAM trinity’ of Jan Dhan, Aadhaar and Mobile, national digital literacy mission, Open Network for Digital Commerce (ONDC), Government e Marketplace (GeM), etc.
Over 500 million people have benefited from the Jan Dhan Yojana, with over ₹2 trillion deposited in these accounts. Fifth is the government’s focus on ease of living by improving the delivery of services to people. From universal sanitation coverage to social welfare schemes in the areas of healthcare (340 million-plus citizens get free health insurance under Ayushman Bharat), pension and banking, from smoke-free kitchens (100 million-plus women given free gas connections) to piped water being made far more widely available (140 million-plus families now have access to clean tap water), and from technology access to housing efforts (40 million-plus families have pucca houses now),
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