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Business Reforms Key to Unlocking Faster State-Specific Growth
Business Standard
|February 01, 2025
States need to focus on business reforms as a priority to achieve faster growth in industrial or service sectors where they have natural advantages, the Economic Survey 2024-25 released on Friday observed.
"States should make it easier for businesses to commence operations, grow, and even close, if deemed inevitable by the entrepreneur. Allowing economic activity as far as possible and getting out of the way will foster faster convergence of living standards and per capita incomes," the Survey said.
Making a case for Ease of Doing Business 2.0, the Survey said states need to remove prohibitions on women working in factory processes, set legal safeguards for penalties and enforcement, and reduce electricity tariff markups for industrial users.
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