Govt to issue unique identity number for start-up enterprises

New Delhi: Start-up enterprises will now get a unique identity that will help them to seamlessly interact with a host of government departments in another move towards ease of doing business in India, a top official said.

Representational image. Image courtesy - CNN News18

Representational image. Image courtesy - CNN News18

"Department of Industrial Policy and Promotion (DIPP) has begun an exercise for issuance of unique business identification number (UBIN) for budding entrepreneurs to start off their new businesses without any delay," said Ramesh Abhishek, secretary, DIPP.

Abhishek spoke at a seminar on "Is the Corporate Sector Over-Regulated?" which was organised by PHD Chamber of Commerce and Industry here on Saturday.

The DIPP will issue the UBIN for the new entrepreneurs after the receipt of related applications, the secretary said.

"This number would automatically be moved on to MCA (ministry of corporate affairs) portal after it is issued to the intended beneficiary and subsequently sent on to the CBDT (central board of direct taxes) which would nomenclature it as PAN (permanent account number) for UBIN," said Abhishek.

The DIPP secretary pointed out that the top bureaucracy has been activated by Prime Minister Narendra Modi to produce results well within targeted time and its no longer business as usual in India.

The move is seen as a major step towards ease of doing business and the start-up India initiative of the government.

 


Updated Date: May 07, 2016 20:46 PM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See