Centre for Processing Accelerated Corporate Exit (C-PACE)

  • February 2, 2022
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Centre for Processing Accelerated Corporate Exit (C-PACE)

Topic: Economy

In news:

  • The Union Budget 2022-23 has proposed to establish the Centre for Processing Accelerated Corporate Exit (C-PACE) for speedy winding- up of companies.
  • The finance minister proposed that the Centre for Processing Accelerated Corporate Exit (C-PACE) with process re-engineering, will be established to facilitate and speed up the voluntary winding-up of these companies from the currently required 2 years to less than 6 months.
  • “Several information technology-based systems have been established for accelerated registration of new companies.
Centre for Processing Accelerated Corporate Exit (C-PACE) economy