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Concept & Reforms Initiated. Gross Domestic Product Value of all final goods & services produced- GDP Components of GDP Agriculture & Allied – Agriculture,

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Presentation on theme: "Concept & Reforms Initiated. Gross Domestic Product Value of all final goods & services produced- GDP Components of GDP Agriculture & Allied – Agriculture,"— Presentation transcript:

1 Concept & Reforms Initiated

2 Gross Domestic Product Value of all final goods & services produced- GDP Components of GDP Agriculture & Allied – Agriculture, Live Stock, Fishing, Forestry & Logging Industry – Manufacturing, Electricity, Gas, Water Supply & Construction Services – Trade, Repairs, Hotels & Reastorents, Transport, Storage, Communication & Broadcasting, Financial & Real Estate, Professional services

3 Economic Status WorldIndiaMaharashtraGujarat Agri & Allied Services 6.0%18.0%11.0%22.0% Industry30.0%24.0%27.0%35.0% Services64.0%58.0%62.0%43.0% Contribution to GDP For healthy & sustaining economy it is desirable to have contribution of Manufacturing sector at least up to 35% in GDP.

4 StateGDP at Current Prises Rs Crs % in share in National GDP Maharashtra106493914.95% UP5961238.39% Gujarat5958398.4% Karnataka3800045.34% Tamilnadu5698348.02% West Bengal4391806.18% AP (Undivided)4986317.09% India Total7103739100%

5 Doing Business Ease of Doing Business – Ranking created by World Bank since 2003, It is an indicator of the level of facilitation by the Govt in setting up of business/industry. It is based on study of Laws & regulations directly affecting business in almost 189 countries This ranking is based on average of 10 parameters

6 Parameters measured in Ease of Doing Business (India’s Standing) Starting a Business- It measures no of procedures, time & cost for start-up & formally run a business. (158) Obtaining Construction Permits - It measures no of procedures, time & cost required for obtaining construction permits. (184) Getting Electricity - It measures no of procedures, time & cost for obtaining new Electric connection for new construction. (137)

7 Registration of Property -It measures no of steps, time & cost involved in registration (pre, registration & post) for a title free property (121) Getting Credit - It measures strength of Credit reporting systems & effectiveness of Collateral & Bankruptcy laws in facilitating lending. (36) Protecting Investors - It measures Corporate governance & transparency to reduce abuse by majority share holders. (7)

8 Paying Taxes - It measures time & adnmn costs associated in paying/ withholding taxes by business in a year. (126) Treading across the Borders - It measures time & costs associated with export & importing a standardized cargo by sea.(126) Enforcing Contracts - It measures efficiency to resolve commercial sale disputes. (186)

9 1. Starting a Business RankNo of procedu res Time (Days) Cost (% of per -caipta income) Min paid-up capital(% of per -caipta income) Singapore632.50.60 USA46661.70 China12811310.90 India158133016.3111.2 It measures no of procedures, time & cost for start-up & formally run a business

10 2. Construction Permits RankNo of procedures Time (Days) Cost (% of construction value) Singapore210260.3 USA4115900.3 China179222447.6 India1842618628.2 It measures no of procedures, time & cost required for obtaining construction permits

11 3. Getting Electricity RankNo of procedures Time (Days)Cost (% of income per- caipta) Singapore1143126.3 USA6159025.5 China1246143460 India1377106487 It measures no of procedures, time & cost for obtaining new Electric connection for new construction

12 4. Registration of Property RankNo of procedures Time (Days) Cost (% of value of property) Singapore24452.8 USA295152.4 China374203.6 India1217477 It measures no of steps, time & cost involved in registration (pre, registration & post) for a title free property

13 5. Getting Credit RankStrength of Legal Right Index (1-12) Depth of Credit Info Index (0-8) Credit Registry Coverage (% of adults) Credit Bureau Coverage (% of adults) Singapore1787050.8 USA21180100 China714633.20 India3667022.4 It measures strength of Credit reporting systems & effectiveness of Collateral & Bankruptcy laws in facilitating lending

14 7. Protecting Investors Ran k Extent of Disclo sure Index (0-10) Share Holder Right Index (0_10) Strengt h of Govern ance Structu re Index (0-10) Extent of Corpor ate Transp arency Index (0-9) Extent of Share Holder Govern ance Index (0-10) Strength of Minority Investors protectio n Index (0-10) Singa pore 31067.5 6.78 USA257.44.56.5 4.86.6 China1321037744.5 India7768.5 7.87.3 It measures Corporate governance & transparency to reduce abuse by majority share holders.

15 7. Paying Taxes Ran k No of payments per year Time (Hrs per year) Profit tax % Labour tax & Contrib ution % Other taxes % Total Tax rate (% of Profit) Singap ore 55822.215.11.118.4 USA471117528.29.76.043.8 China12072617.849.37.464.6 India1263324325.320.715.761.7 It measures time & adnmn costs associated in paying/ withholding taxes by business in a year.

16 8. Treading across the Borders Ran k No of documen ts to export Time to export (Days) Cost of export per contai ner $ No of docum ents to import Time to import (Days) Cost of import per contai ner $ Singa pore 13646034440 USA16361224561289 China98821823524800 India126717133210211462 It measures time & costs associated with export & importing a standardized cargo by sea.

17 9. Enforcing Contracts RankNo of procedures Time (Days)Cost (% of claim) Singapore12115025.8 USA413342030.5 China353745316.2 India18646142039.6 It measures efficiency to resolve commercial sale disputes

18 10. Resolving Insolvency Ran k No of documen ts to export Time to export (Days) Cost of export per contai ner $ No of docum ents to import Time to import (Days) Cost of import per contai ner $ Singa pore 13646034440 USA16361224561289 China98821823524800 India126717133210211462 It identifies weakness in existing Bankruptcy laws, procedures & admn. bottlenecks in Insolvency procedures.

19 Over all Rankings SingaporeUSAChinaIndia 20141793140 20151790130

20 Make in India & Maharashtra All out efforts are being made to revive Manufacturing Sector through domestic & foreign investments by adopting Single window clearances Reducing & Simplification of procedures required Cutting out Red Tapism

21 State Govt Initiatives Establishment of single window Reducing no of permissions required Simplification in Inspection procedures Compliance based of self certification by industries

22 Departments Involved Industries Dept. - Directorate of Industries & MIDC Labour Department – Labour, DISH, Boiler Energy Department - MSEDCL Revenue Department - MPCB Legal Metrology UDD

23 Reforms by DoI Maitri – Maharashtra Industry, Trade & Investment facilitation cell at Mumbai ( consents & permissions required for setting up industry are tracked & fallowed) www.maitri.gov.inwww.maitri.gov.in Fast Track approvals – Empowered committee under Chief Secretary constituted for fast track approvals of investments On line registration for MSEs – Udyog Adhar no in place of EMI & EMII www.udyogadhar.nic.inwww.udyogadhar.nic.in

24 Check list of permissions required – Standard Checklist of permission for MIDC & Non-MIDC areas available on http://ifc.mahaebiz.com http://ifc.mahaebiz.com Simplification of procedure of getting Eligibility Certificate under PSI. Committee under CP/SP - for maintaining law & Order in industrial areas. Industrial Location Policy in MMR discontinued.

25 Thanks

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