Fast-tracking investments: New law for single window clearances likely soon | lucknow | Hindustan Times
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Fast-tracking investments: New law for single window clearances likely soon

UP government plans to enact a new law to provide single window clearances so that investments are fast tracked and Udyog Bandhu is restructured.

lucknow Updated: Jul 28, 2018 15:16 IST
Umesh Raghuvanshi
Umesh Raghuvanshi
Hindustan Times, Lucknow
Fast-tracking investments,Single window system,Udyog Bandhu
A draft law titled ‘Uttar Pradesh Industrial Investment Promotion Bill’ has been prepared with the option of changes in some of the proposed provisions when it’s given a final shape(Representative image)

Uttar Pradesh government plans to enact a new law to provide single window clearances so that investments are fast tracked and Udyog Bandhu is restructured.

A draft law titled ‘Uttar Pradesh Industrial Investment Promotion Bill’ has been prepared with the option of changes in some of the proposed provisions when it’s given a final shape.

“Yes, we are bringing a new law for single window clearances to proposals made by investors,” said chief secretary Anoop Chandra Pandey.

A presentation of the draft bill was made before chief minister Yogi Adityanath early this week. It provides for setting up of a governing board for Udyog Bandhu that will be headed by the chief minister. It will have the ministers of the concerning departments and chief secretary as its members. Chief executive officer of Udyog Bandhu is likely to be member secretary of the board.

Under the provisions of the draft bill, the board will be authorized to clear investment proposals of Rs 2000 crore and above and also intervene on policy issues. An executive board, headed by the chief secretary or infrastructure and industrial development commissioner (IIDC) has also been suggested. This board (when headed by IIDC) will be authorized to clear proposals for investment up to Rs 500 crore. But if the board is headed by the chief secretary it will be able to clear proposals of Rs 500 crore and above.

District magistrates will be authorized to give clearances for proposals up to Rs 100 crore.

A proposal to bring a new law was moved after some investors raised the issue of delay in clearances at the Uttar Pradesh Investors’ Summit-2018 organised here on February 21 and 22.

“Some investors pointed towards the provisions that existed in Gujarat and some other states and suggested that the same be adopted in Uttar Pradesh. Senior IAS officer and principal secretary khadi and village industry Navneet Sehgal was, thereafter, asked study the prevailing laws in Gujarat and other states. Sehgal submitted his recommendation to the chief secretary recently. The state government is incorporating the Gujarat model to expedite clearances in the state,” said a senior officer.

Although successive state governments have talked about single window clearance to fast track new projects, this is for the first time that a law has been proposed to make statutory provisions for the same.