Four more states viz. Assam, Haryana, Himachal Pradesh and Punjab have undertaken "Ease of Doing Business" reforms stipulated by the finance ministry. With this, these states have become entitled to mobilize additional financial resources and have been granted permission to raise additional Rs 5,034 Cr through Open Market Borrowings.

The total number of states that have undertaken the stipulated reforms to facilitate ease of doing business has reached up to 12. On completion of reforms facilitating ease of doing business, these twelve states have been granted additional borrowing permission of Rs 28,183 Cr.

Earlier, Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana have also reported completion of this reform, which was confirmed by the Department for Promotion of Industry and Internal Trade (DPIIT).

The government in May last year had decided to link grant of additional borrowing permissions to states that undertake the reforms to facilitate ease of doing business.

In view of the resource required to meet the challenges posed by the Covid-19 pandemic, the Government of India had on May 17, 2020 enhanced the borrowing limit of the states by 2 percent of their GSDP. Half of this special dispensation was linked to undertaking citizen centric reforms by the states.

The ease of doing business is a key indicator of the investment-friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy, a finance ministry statement said.

So far, 17 states have carried out at least one of the four stipulated reforms and have been granted reform linked borrowing permissions. Out of these, 12 states have implemented the "one nation one ration card" system, 12 states have done ease of doing business reforms, 5 states have done local body reforms and 2 states have undertaken power sector reforms. Total reform linked additional borrowing permission issued so far to the states stands at Rs 74,773 Cr.

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