Editorial | Ease of Business

It has always been the dream of business community to be free of needless regulation, and do business in a confident and friendly environment. In fact the very idea of a liberal state was pivoted around the concept of least interference from the state so that the business grows in an atmosphere of positive competition, and is led by the dynamic of market forces alone. Since complete and absolute freedom is a dangerous idea, and can lead to terrible imbalances in any human society, economic and political thinkers have always agreed to the regulations that are aimed at creating a balanced growth in any human society. Nevertheless the principle of minimal interference is at the root of modern day concept of business and entrepreneurship. In Kashmir also the business community has always wanted a friendly interface with the government agencies so that the business community doesn’t feel choked.

What comes in the way of this is the elaborate and excessive regime of controls and objections from a labyrinth of government agencies. In the beginning of the post colonial states, of which India is a glaring example, such controls were very discouraging. The fight against the license Raj is a salient part of political struggle in this part of the world. Later when the things eased out, business started growing, and its impact on the overall health of the economy could be felt. The next big turn was the drive for liberalisation that started in early 1990s. That was a huge change and ever-since we saw how it completely changed the face of business in India. But still there are some bottlenecks.  These are mostly encountered by small and medium scale entrepreneurs. In this backdrop it is a good news that the LG administration is easing up the process of obtaining NoCs, and in the beginning trying to do way with this practice of getting a slew of No Objection Certificates from various departments.  It is a welcome step and can encourage the young and budding entrepreneurs.