Punjab to implement Deemed Approval system to promote ease of doing business: CM
Sep 09, 2020
Chandigarh (Punjab) [India], September 9 : Chief Minister of Punjab Captain Amarinder Singh on Wednesday expressed dissatisfaction with Punjab's 19th rank in the Ease of Doing Business Survey, saying that a new system of Deemed Approvals would be implemented soon to further promote business ease.
As per a statement from the Punjab Government, the Chief Minister said that he aimed to put the state in the top five next year and invited industries to be a part of the government's efforts to help the state regain its preeminent position.
"The government is working on implementing a system of Deemed Approvals wherein online automatic clearances will be issued on the expiry of the stipulated time period. The process of setting up new industrial parks to attract investments from foreign and domestic companies was also on," the statement quoted the Chief Minister, citing the upcoming state-of-the-art Mega Parks in Ludhiana, Rajpura, Bathinda, and Mohali.
The Chief Minister also reiterated his government's commitment to support investors in the post-COVID-19 environment in the coming year and invited the industry to partner the state in improving its skill training and make it more job-oriented, saying, "you need skilled manpower and you can absorb these trained youth at better rates."
"The New Education Policy will be tweaked by our government to suit the specific requirements of the state, particularly in the context of the post-COVID environment that would need a new skill-set for providing employment to youth," the Chief Minister said, adding that skill development for rural children, in particular, was a challenge.
"The government is also trying to facilitate the shift from paddy to cash-rich crops, while aggressively promoting the industry, which had taken a major hit at the time of the creation of Haryana. The pandemic had hit the industrial development process adversely and caused the economy to suffer immensely, and even amidst the crisis, the state had received an investment of about Rs. 2500 cr. which is a strong sign of investor confidence in Punjab. Overall the state had received investments worth over Rs. 64,000 cr on the ground in the last 3.5 years in response to the new industrial policy launched by his government," the statement said.
