Rating system to enable states improve business climate: Arun Maira

CHENNAI: The Planning Commission has introduced a rating system for states to enable them improve on their business climate.

The rating would be done based on key parameters, including availability of land, skilled labour and taxation issues, he said after releasing a study by Madras Chamber of Commerce and Industry (MCCI) on the manufacturing sector in Tamil Nadu, Commission's member Arun Maira said here today.

Based on 'Business Regulatory Impact Analysis' (BRIA) concept, the rating would be an annual exercise which would identify the best performing states so as to allow others to take a cue from them by possibly adopting their business practices, he said.

"We would like to bring all the stakeholders on to a single platform to analyse the problems and solve it at the earliest," he said.

The first report would be ready in a few weeks but would not be released as of now since Lok Sabha elections are due, he said, adding that a private firm has been appointed to carry out the analysis.

Earlier, the study by MCCI, which covered 100 respondents, suggested a slew of regulatory and operational reforms to the state government, including introducing a Single Business Act to simplify rules for starting, running and closing a business.