India’s top CEOs say a simpler tax regime and compliance will go a long way in improving the country’s attractiveness as a business and investment destination.
An exclusive Deloitte survey for Moneycontrol of 78 chief executive officers (CEOs) and chief experience officers (CXOs) found that 87 percent of the respondents identified simplified tax regimes and compliances as the most important steps the government could take to improve ease of doing business in India.
Around 55 percent of the respondents showed a significant interest in enhancing digitisation efforts and implementing an online single-window system to streamline clearances and integrate business procedures, as they called for easier compliance processes for trade and investment across borders.
Reskilling and upskilling talent and reducing the skill gap for better job prospects, improvement in land and labour laws, fast disposal of commercial disputes and an effective framework and process for insolvency were among other measures suggested by the CEOs.
Also read: MC-Deloitte CEO Survey: India Inc expects Modi govt to present blockbuster budget
The government has been making various efforts to improve the ease of doing business through the Department for Promotion of Industry and Internal Trade (DPIIT), the nodal agency.
Some of the measures taken by the DPIIT include simplification of procedures related to applications, renewals, inspections, and filing records; rationalisation of legal provisions by repealing, amending, or omitting redundant laws; digitization of government processes by creating online interfaces, and decriminalisation of minor, technical or procedural defaults.
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