CURRENT AFFAIRS

Detailed explanation-1: -Minister of State for Commerce and Industry Anupriya Patel launched the Indian Business Portal in New Delhi on May 27, 2022. This portal will serve as an international trade hub for Indian exporters and foreign buyers. This Portal has been developed by the Federation of Indian Export Organisations.

Detailed explanation-2: -Ministry Of Corporate Affairs - Ease Of Doing Business.

Detailed explanation-3: -It has progressed on seven out of the 10 parameters. To further enhance the ease of doing business in the country, the Union Budget 2023-24 highlighted that more than 39, 000 compliances have been reduced and more than 3, 400 legal provisions have been decriminalized.

Detailed explanation-4: -It is an initiative launched by Prime Minister Narendra Modi on 25 September 2014 to encourage national, as well as multi-national companies to manufacture their products in India. The main aim is to raise the contribution of the manufacturing sector by 25% of the GDP by the year 2025.

Detailed explanation-5: -4 There are 10 parameters of Ease of Doing Business: Starting a Business of all, Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit, Protecting, Minority Investors, Paying Taxes, Trading across Borders, Enforcing Contracts and Resolving Insolvency.