Which among the following steps can be taken to improve ease of doing business in India 1 Implementa...........

Economic Affairs Make in India

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Which among the following steps can be taken to improve ease of doing business in India?

1. Implementation of Goods and Services Tax

2. Flexibility in labour policy

3. Improving effectiveness of single window clearances

Select the correct answer using the code given below.

1 and 2 only

2 and 3 only

3 only

1, 2 and 3

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Explanation:

Challenges to Ease of Doing Business:
o Time required to obtain clearances.
o Challenges in transfer pricing audit
o Indian tax regime not proactive in promoting investments etc.
Steps that can be taken:
o Need for simplification & transparency in process
o Promote industrial clusters
o Introduce market price-based pricing mechanism
o Implement Goods & Services Tax
o Reduce discretionary nature of taxes
o Time-bound taxation-related dispute resolution