Ministry of Corporate Affairs (MCA) Operationalizes Central Processing Centre to facilitate Ease of Doing Business (EoDB)

Posted 17 Feb 2024

Updated 22 Mar 2024

1 min read

CPC is established for centralised processing of regulatory compliance forms filed under Companies Act and Limited Liability Partnership Act.
- It will process applications in time bound and faceless manner on lines of Central Registration Centre (CRC) and Centralized Processing for Accelerated Corporate Exit (C-PACE).
  - CRC provides services for speedy incorporation of companies whereas C-PACE provides centralised processing of applications for voluntary closure of companies.
EoDB refers to simplicity, efficiency, and cost-effectiveness of setting-up, operating, and closure of businesses in a particular territory.
Focus areas of EoDB reforms include -
- Simpliﬁcation of procedures related to applications, renewals, inspections, filing records, etc.,
- Rationalization by repealing, amending, or subsuming redundant laws,
- Digitization by creating online interfaces eliminating manual forms and records, and
- Decriminalization of minor technical or procedural defaults.

Significance of EoDB reforms
- Economic growth: Through improved resource allocation, enhanced competitiveness to boost innovation, etc.
- Foreign investment: Through reduced bureaucratic hurdles, improved transparency to reduce perceived risks for investors, etc.
- Social development: By promoting inclusivity and providing opportunities for marginalized communities to participate in economic activities.

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