Time bound clearance 2020 Act drafted at CM Kamal Nath’s initiative

Bhopal: The Time Bound Clearance Act 2020 has been drafted on the initiative of Chief Minister Kamal Nath to attract investment in Madhya Pradesh, to provide extensive employment opportunities to the youth and to promote economic activities in the state. During the Chief Minister’s four-day visit to Davos for the annual meeting of the World Economic Forum, industrialists will be informed about this draft as well as the investment-friendly policies of the state government.
Among the efforts made by the Chief Minister Kamal Nath in the last one year to economically strengthen the state and to provide employment to the unemployed, the most significant is reviving the investors’ confidence in the state and taking many such decisions that has inspired industrialists to set up industries in Madhya Pradesh. The Chief Minister believes that in order to produce results, it is necessary to ensure the period of every work and that work should be done within the stipulated period. The Chief Minister has also taken special initiative in the field of investment along with efforts to convert this thinking into the work culture of the state government. A planned policy will be made soon and enacted as a law to ensure that those wishing to set up industries should get clearance for their projects on time from various departments.
The draft of the Time-bound Clearance Act 2020 is being prepared under the guidance of the Chief Minister along with his long-term and farsighted developmental, administrative and political experiences. This will facilitate investors in saving time from delay in getting permissions and approvals in setting up their industries. The draft proposes to make Madhya Pradesh Industrial Development Corporation a nodal agency. There will be time limit to complete all the procedures in setting up the industry.
As a result of the implementation of the Time Bound Clearance Act 2020, about 24 such services, which are required to set up the industry, will get immediate approval. Also, seven day period is proposed to be fixed for approval of 16 other services. The proposed provisions in this draft will introduce Joint Inspection Regime, which will create the atmosphere of Ease of Doing Business in Madhya Pradesh.