The government will launch a web service for reserving name of a proposed company along with several other initiatives under the Government Process Re-engineering this Republic Day to improve ease of doing business in the country. 

The web service, called RUN (reserve unique name), will allow entrepreneurs to reserve a name for their proposed venture besides enabling them to change the name of an existing company, the ministry of corporate affairs said in a statement Thursday. 
 

The ministry said it will also introduce zero fee for incorporation of all companies with authorized capital of up to Rs 10 lakh. The Director Identification Number (DIN) will also be allotted through the combined SPICe form at the time of an individual's appointment as director, it said. 
 

The government expects these initiatives will make starting a business in the country easier, thereby improving ease of doing business. India wants to be in the top 50 countries in the World Bank's Doing Business Report. 

It is currently ranked 100 among 190 countries after a jump of 30 ranks this year. The ministry said it has undertaken initiatives such as establishing the Central Registration Centre for delivering speedy incorporation-related services and near real time issuance of PAN & TAN through a single on-line process. 
 

"The ministry of corporate affairs (MCA) has also contributed significantly towards improvement of ranking in ease of doing business in the country, but there is a lot more scope to further improve, especially with respect to starting a business," the statement said. 

From Economic times