BHOPAL: An Act on the lines of Public Services Guarantee Act is on the anvil for the investors who intend to invest in Madhya Pradesh.
The draft of the Time-bound Clearance Act 2020 is almost ready and will be given a final shape after CM’s return from Davos.
Main draft of the Act is being prepared under the guidance of the CM Kamal Nath.
This will facilitate investors in saving time from delay in getting permissions and approvals in setting up their industries.
The draft proposes to make MP Industrial Development Corporation a nodal agency. There will be time limit to complete all the procedures in setting up the industry.
During the Chief Minister’s four-day visit to Davos for the annual meeting of the World Economic Forum, industrialists will be informed about this draft as well as the investment-friendly policies of the state government.
As a result of the implementation of the Time Bound Clearance Act 2020, about 24 such services, which are required to set up the industry, will get immediate approval.
Also, seven day period is proposed to be fixed for approval of 16 other services. The proposed provisions in this draft will introduce Joint Inspection Regime, which will create the atmosphere of Ease of Doing Business in Madhya Pradesh.
The Act has been drafted to attract investment in the state, to provide extensive employment opportunities to the youth and to promote economic activities in the state.
CM believes that in order to produce results, it is necessary to ensure the period of every work and that work should be done within the stipulated period.
Chief Minister has also taken special initiative in the field of investment along with efforts to convert this thinking into the work culture of the state government.
A planned policy will be made soon and enacted as a law to ensure that those wishing to set up industries should get clearance for their projects on time from various departments.
