From now on, doing business or setting up of business units will become much easier in Jammu and Kashmir.
The Administrative Council, under the chairmanship of Lieutenant Governor Manoj Sinha, has approved a series of measures for simplifying business establishment process to revive the business sector and boost investor confidence with a business-friendly environment in the union territory.
No approvals required
Unlike before when industries used to require as many as 15 NoCs (no-objection certificates) or clearances for setting up a business unit, all those clauses have been reduced to bare minimum now.
A decision has been taken during a meeting at the Raj Bhavan on Sunday, whereby the Udyog Aadhar Memorandum as per the dormat of the Centre shall be the only requirement for a business unit to be set-up in the union territory.
Meanwhile, two sets of Single Window Committees have been established, one for business units coming up within Industrial Estates and the other Committee for Units outside the Industrial Estates, which will ensure time-bound issuance of the NoCs/approvals pertaining to power connection, water connection, building plan, and others, in accordance with the specified timelines on case by case basis.
In addition to this, a Divisional Level Committee has also been approved to periodically monitor the workings of the above Committees and address issues, if any, related to issuance of the NoCs and approvals.
However, it should be noted that NoCs from departments like Pollution Control Board (CTE/CTO), Fire and Emergency Department, change of land use from the Revenue Department, and other maintenance will be required.
Encourage large-scale investment
Lt Governor, Manoj Sinha has reportedly said that such policy decisions are being undertaken to encourage large scale investment to "give a fillip to Jammu and Kashmir's economy" as well as improve the region's ranking in the Ease of Doing Business Index.
The Centre had last month approved a new Industrial Developmental Scheme with an investment to the tune of approximately Rs. 28,400 crore to give a major push to the economy of the region and provide huge employment opportunities to the people. The new scheme also aims to take industrial development to the block level in the union territory.