Sikkim, Meghalaya and Arunachal Pradesh Lowest In Ease Of Doing Business
GUWAHATI: Three North Eastern states Meghalaya, Arunachal Pradesh and Sikkim is among three lowest rank holders when it comes of Ease Of Doing Business in India.
According to the 15th Finance Commission headed by Chairman, N.K. Singh which specifically looked into the prospects of invesntment in the Himalayan town known for its organic products observed that according to Ease of Doing Business ranking-2017-18, Sikkim is third lowest after Meghalaya and Arunachal Pradesh.
Sikkim currently does not have a Companies Act, as after the repeal of the old Act, new Companies Act has not been notified. It further noted that being an environmentally sensitive zone so the clearance cannot be automatic as each issue needs a closer look.The land laws protect the interest of ethic community and any change of title requires approval at highest level
According to 5th Employment Un-employment survey of Labour Bureau 2015-16, Sikkim has second highest unemployment rate (after Tripura) of 18.1 per cent. This implies jobless growth in the State.
Earlier, the commission observed more or less the same reasons for tepid growth of industrialisation in two other North Eastern states Meghalaya and Aruncahal Pradesh.