- CPC is established for centralised processing of regulatory compliance forms filed under Companies Act and Limited Liability Partnership Act.
- It will process applications in time bound and faceless manner on lines of Central Registration Centre (CRC) and Centralized Processing for Accelerated Corporate Exit (C-PACE).
- CRC provides services for speedy incorporation of companies whereas C-PACE provides centralised processing of applications for voluntary closure of companies.
- It will process applications in time bound and faceless manner on lines of Central Registration Centre (CRC) and Centralized Processing for Accelerated Corporate Exit (C-PACE).
- EoDB refers to simplicity, efficiency, and cost-effectiveness of setting-up, operating, and closure of businesses in a particular territory.
- Focus areas of EoDB reforms include -
- Simplification of procedures related to applications, renewals, inspections, filing records, etc.,
- Rationalization by repealing, amending, or subsuming redundant laws,
- Digitization by creating online interfaces eliminating manual forms and records, and
- Decriminalization of minor technical or procedural defaults.
- Significance of EoDB reforms
- Economic growth: Through improved resource allocation, enhanced competitiveness to boost innovation, etc.
- Foreign investment: Through reduced bureaucratic hurdles, improved transparency to reduce perceived risks for investors, etc.
- Social development: By promoting inclusivity and providing opportunities for marginalized communities to participate in economic activities.
