Following are the main reforms carried out by the government in last one year:
1. Requirement of minimum paid-up capital for companies removed.
2. Requirement of common seal for companies removed.
3. Requirement of filing declaration of commencement for companies removed.
4. Single step incorporation of companies through INC-29 Form.
5. Loans or guarantee to fully owned subsidiary company facilitated.
6. Process to approve related party transaction made simpler.
7. Board’s resolutions taken off the disclosure requirements facilitating better functioning of companies.
8. Order to facilitate revival and rehabilitation of MSMEs issued.
9. Customs Clearance Facilitation Committees (CCFCs) constituted at ports to facilitate expeditious clearance of goods.
10. Only three documents are required for exports and imports.