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Measures to bring industry and manufacturing centre stage for economic growth Marks 2015
GDP at factor cost is no longer relevant in the New Series. As per the international practices, industry-wise estimates have been presented as Gross Value Added (GVA) at basic prices, while GDP at market prices’ of old series has been referred as GDP in new series.
1. GDP at factor cost is no longer relevant in the New Series. As per the international practices, industry-wise estimates have been presented as Gross Value Added (GVA) at basic prices, while ‘GDP at market prices’ of old series has been referred as GDP in new series.
India’s growth rate of the GVA at Basic Price at constant (2011-12) prices in 2014-15 was 7.2 % with growth of GVA in industry at 4.5 % and in manufacturing at 5.3 %. The sectoral share in GVA at basic price at constant (2011-12) price of manufacturing sector was 18.1 % in 2014-15.
GDP at constant (2011-12) prices in Q2 of 2015-16 is estimated at Rs. 27.57 lakh crore as against Rs. 25.66 lakh crore in Q2 of 2014-15, showing a growth rate of 7.4%.
Quarterly GVA at basic prices for Q2 2015-16 from ‘manufacturing’ sector grew by 9.3 percent as compared to growth of 7.9 percent in Q2 2014-15.
2. Doing Business Report
World Bank brings out Doing Business Report every year. Report for the year 2016 came out in October, 2015. In doing Business Report 2015, India was ranked at 142 among 189 countries. India’s rank for 2015 has been re-calculated and reported in Doing Business Report for 2016. The revised rank on account of various reforms initiated by the Government is 134. Our position has further improved in 2016 ranking to 130th rank. The table below indicates India’s ranking on different parameters.
| S.No | Indicator | DB, 2016 | DB, 2015 |
| 1. | Starting a business | 155 | 164 |
| 2. | Dealing with construction permits | 183 | 184 |
| 3. | Getting electricity | 70 | 99 |
| 4. | Registering property | 138 | 138 |
| 5. | Getting credit | 42 | 36 |
| 6. | Protecting minority investors | 8 | 8 |
| 7. | Paying taxes | 157 | 156 |
| 8. | Trading across borders | 133 | 133 |
| 9. | Enforcing contracts | 178 | 178 |
| 10. | Resolving insolvency | 136 | 136 |
| | Overall Rank | 130 | 134 |
3. Good Governance Measures Taken
Several steps have been taken in the past 18 months to give the necessary thrust to manufacturing, whose share in the GDP has hovered around 15% for many years. Major Initiatives have been taken for improving ‘Ease of Doing Business’ in India through simplification and rationalization of the existing rules and procedure and use of information technology to make governance more efficient and effective.
4. Ease of Doing Business
(i) eBiz Portal :
A total of fourteen services were previously integrated with eBiz portal in 2014-15. The total bouquet of eBiz services now stands at 20 Central Government services.
List of Central Services integrated; list of Central Government Services in progress; list of 16 state services launched and list of 24 identified services for States is given below
• List of 20 Central Government Services(Integrated)
| S. No. | Ministry/ Dept. Name | Service Name |
| 1 | Ministry of Corporate Affairs | Name Availability |
| 2 | Ministry of Corporate Affairs | Director Identification Number |
| 3 | Ministry of Corporate Affairs | Certificate of Incorporation |
| 4 | Ministry of Corporate Affairs | Commencement of Business |
| 5 | Central Board of Direct Taxes | Issue of Permanent Account Number (PAN) |
| 6 | Central Board of Direct Taxes | Issue of Tax Deduction Account Number (TAN) |
| 7 | Reserve Bank of India | Advanced Foreign Remittance (AFR) |
| 8 | Reserve Bank of India | Foreign Collaboration-General Permission Route (FC-GPR) |
| 9 | Employees’ Provident Fund Organization | Employer Registration |
| 10 | Employee’s State Insurance Corporation | Employer Registration |
| 11 | Petroleum and Explosives Safety Organization | Issue of Explosive License |
| 12 | Directorate General of Foreign Trade | Importer Exporter Code License |
| 13 | Department of Industrial Policy and Promotion | Industrial License |
| 14 | Department of Industrial Policy and Promotion | Industrial Entrepreneur Memorandum |
| 15. | Department of Heavy Industry (DHI) | Issue of custom duty concession certificate to entrepreneurs under project import scheme |
| 16. | Central Board of Direct Taxes (CBDT) | Changes or correction in PAN data |
| 17. | Reserve Bank of India | Foreign Currency- Transfer of Shares |
| 18. | Ministry of Labour and Employment (MoL&E) | Registration under the Contract Labour Act, 1970 |
| 19. | Ministry of Labour and Employment (MoL&E) | Registration under the Building and other construction workers Act, 1996 |
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