NATIONAL SINGLE WINDOW SYSTEM

Question 1

Why in NEWS?

Answer 1

Recently, Jammu & Kashmir became the first Union Territory to be onboarded the National Single Window System (NSWS).
marks a major leap in Ease of Doing Business (EoDB) in the Union Territory.

Question 2

What is the National Single Window System?

Answer 2

The platform was soft launched in September 2021 by the Ministry of Commerce and Industry.

one-stop digital platform that aims at allowing investors to apply for various pre-operations approvals

Question 3

Significance of NSWS?

Answer 3

It would become a “one stop shop” for state and Central government compliances and bring transparency, accountability and responsiveness in the ecosystem.

Question 4

What are Other Initiatives to Improve EoDB??

Ease of doing buisness

Answer 4

Amendments to Insolvency and Bankruptcy Code (IBC) and Decriminalisation under Companies Act, 2013.

Reduction of corporate tax from 30% to 25% for mid-sized companies.

Question 5

NSWS Launched by whom?

Answer 5

Launched by Piyush goyal in SEP 2021