Govt mulls single application form, investment clearance cell to woo investors
PTI, Dec 31, 2019, 3:59 PM IST
New Delhi: The government is considering setting up an investment clearance cell and provide defined timelines for all kinds of state and central approvals to attract investments, an official said.
In order to further ease the business climate of the country, it is also looking at developing a single application form for all kinds of clearances and provide deemed approvals, the official said.
For onboarding central departments and states, the government is looking at two single point of contacts, one each from central department and state; list of licences and documents; detailed processes; timelines for each approval /deemed approvals; and support for IT systems integration from all departments, the official added.
The Department for Promotion of Industry and Internal Trade (DPIIT) is working on the proposal, which could be implemented in four phases.
According to the proposal, an investor would also be able to track the status of his/her application.
Currently, an investor has to seek several approvals such as company incorporation, GST registration, import export code, environment clearance, and NOC for groundwater extraction, at central and state government levels.
Investors require single application, self-certification, document submission at a single place, time-bound/deemed approvals, real-time status update.
The department is also considering framing a law for the proposed investment clearance cell and defined timelines for approvals for central departments.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Nifty, Sensex rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
MUST WATCH
Latest Additions
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Congress to discuss candidates for Amethi, Raebareli seats on Saturday
BJP’s CT Ravi Booked for Promoting Hatred and Enmity Through Social Media Post
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi