MP cabinet likely to clear steps to boost investor confidence | indore | Hindustan Times
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MP cabinet likely to clear steps to boost investor confidence

indore Updated: Mar 29, 2015 15:53 IST
HT Correspondent
HT Correspondent
Hindustan Times
Madhya Pradesh

The Madhya Pradesh cabinet, scheduled to meet on March 31, is expected to clear a series of proposals to improve ‘ease of doing business’ to keep the promises it made to the investors last year.

Hindustan Times had reported earlier this month that about 40% of the Rs 5.89 lakh crore-worth investment proposals received during the Global Investors Summit 2014 have been shelved.

An official of the state industry department said the government was making moves to clear the proposals.

“One of them is to allow nodal agency Audyogik Kendra Vikas Nigams (AKVNs) to issue building permissions in the respective industrial areas,” the official said.

Other proposals include consolidating the filing of labour returns and other such mandatory but cumbersome documentation processes.

In fact, a number of state-level and Centre-level proposals are in the pipeline to improve the business climate in the state. The government has also amended some labour laws and sent the proposal to the Centre for its approval.

The industry has welcomed the move. “It is a good move because at times maps for expansion of an industrial unit or construction of new units are stuck in the local municipal bodies for one or the other reason,” said Gautam Kothari, the president of Pithampur Audyogik Sangathan.

The state government has also taken a decision to come out with a report on ‘ease of doing business’ every year to show its intent of making the state investor-friendly. The report will be prepared by an independent agency.

A study sponsored by the Planning Commission last year revealed that Haryana, Gujarat and Madhya Pradesh are the top three industry-friendly states in the country.