KCR UNVEILS NEW INDUSTRIAL BILL
- TS offers right to launch business
- Entrepreneurs empowered by the Bill
- Aimed at a�?single window without grillsa��
- Officers who fail to clear in 15 days will be acted upon
Hyderabad, November 28: Telangana Assembly on Thursday unanimously passed the a�?Telangana State Industrial Project Approval and Self-Certification System a�?(TSI PASS) for timely clearances to industrial units proposed to be set up.
The legislation aims at speeding up processing for the issue of various licenses, clearances and certificates required by industries and also provide for an investor-friendly environment in the State.
TS Chief Minister K Chandrasekhar Rao (KCR) took a potshot at his adversary, Nara Chandrababu Naidu, CM of AP, describing a similar law in A.P. as a a�?single window with grillsa�? unlike Telanganaa��s law which wasA�A� a a�?single window without grills.a�?
KCR informed the House that the Industrial Bill envisaged a state-wide investment facilitation board headed by the Chief Secretary. The board would give provisional approvals to mega industrial projects within 15 days of receiving self-certified applications. The accent was on voluntary declarations.
A separate committee will deal with other smaller projects and clear applications within 30 days. The Telangana CM asserted that there are significant differences between the early legislation and the present one.
These are the prominent features of the Industrial Bill:
- Robust industrial infrastructure
- Dedicated power distribution
- Incentives to mega projects
- Rationalization of taxes
- Two large industrial corridors
- Two industrial cities for the pharma and chemical sectors
- Twenty lakh acres earmarked for industrial parks
- Fourteen thrust areas planned
AP is also surging ahead on the industrial front with CM Naidu making a highly-publicized visit to Japan. He signed four key agreements with Sumitomo Corporation, while three other companies expressed interest.
Telangana is now making ambitious strides towards industrialization and economic uplift. KCR promises investors a�?Minimum inspection, Maximum facilitationa�?.