India, March 17 -- Chandigarh

Aiming to improve the business climate and "reduce regulatory hurdles", the UT administration is in the process of framing a dedicated Ease of Doing Business Act on the lines of the legislation implemented in Punjab. The proposed law aims to ease compliance requirements for micro, small and medium enterprises (MSMEs) and create a more investor-friendly environment in the Union Territory.

Deputy commissioner-cum-estate officer Nishant Kumar Yadav said, "We are in the process of framing the Act. We are hopeful that it will be rolled out next month."

The Chamber of Chandigarh Industries and other associations had been demanding so for long. Under the proposed framework, newly incorporated MSMEs will be allowe...