 "Maharashtra govt simplifies processes to attract investments")
The Maharashtra government has taken steps to approve industrial projects faster.
It has simplified the process for environmental clearances, reduced the number for getting an electricity connection to 21 from 67 and cut the number of approvals for commercial construction to 11 from 27.
The government had, in the information technology policy released last week, proposed a pro-industry premium?? policy to get extra floor space index and provided exemption on stamp duty, electricity duty, octroi, entry tax and local body tax.
State industries minister Subhash Desai told Business Standard: “Maharashtra is well-placed to face competition from other states to attract investments and thereby retain its pre-eminence as the favoured destination in the era of competitive federalism. The government’s emphasis is to improve the state’s position in ease of doing business and consolidate its industry and investment-friendly status.”
He said the administration had proposed reduction of approvals to 37 from 76 but the government had decided to bring it down to 25 for investors. A revised list would be released by the end of June.
Desai said the government had taken a decision to attract more investments in defence, manufacturing, engineering, electronics, agriculture, food processing and textiles. It has received several proposals, especially in the defence sector, after the Centre’s decision to increase foreign direct investment limit to 49 per cent from 26 per cent. The government was also promoting investments in the textiles sector, especially in the Amravati textile park in Vidarbha.
The manufacturing and engineering sectors would get a boost in the upcoming industrial areas of Shendre-Bidkin and Dighi, being developed under the Delhi-Mumbai Industrial Corridor.
Desai said the government had invited Foxconn, a component supplier to Apple, to set up a manufacturing facility in Maharashtra.
Desai said the government recently introduced a location policy and put in place a simplified procedure for various nods. Industrial units would have to fill just one form, instead of three, for sales tax, shops and establishment cess and professional tax.
On giving a much needed push to the micro, small and medium enterprises (MSMEs), Desai said the government would provide more land in the Maharashtra Industrial Development Corporation-run estates and give constructed units with modern infrastructure to the units.
The government would soon set up a Maharashtra MSME Development Institute to help start-ups. “The institute will help resolve issues with regard to raising funds, preparation of technical feasibility and project reports, bring in partners especially foreign partners, skill development and incubation,” Desai added.
It has simplified the process for environmental clearances, reduced the number for getting an electricity connection to 21 from 67 and cut the number of approvals for commercial construction to 11 from 27.
The government had, in the information technology policy released last week, proposed a pro-industry premium?? policy to get extra floor space index and provided exemption on stamp duty, electricity duty, octroi, entry tax and local body tax.
State industries minister Subhash Desai told Business Standard: “Maharashtra is well-placed to face competition from other states to attract investments and thereby retain its pre-eminence as the favoured destination in the era of competitive federalism. The government’s emphasis is to improve the state’s position in ease of doing business and consolidate its industry and investment-friendly status.”
He said the administration had proposed reduction of approvals to 37 from 76 but the government had decided to bring it down to 25 for investors. A revised list would be released by the end of June.
Desai said the government had taken a decision to attract more investments in defence, manufacturing, engineering, electronics, agriculture, food processing and textiles. It has received several proposals, especially in the defence sector, after the Centre’s decision to increase foreign direct investment limit to 49 per cent from 26 per cent. The government was also promoting investments in the textiles sector, especially in the Amravati textile park in Vidarbha.
The manufacturing and engineering sectors would get a boost in the upcoming industrial areas of Shendre-Bidkin and Dighi, being developed under the Delhi-Mumbai Industrial Corridor.
Desai said the government had invited Foxconn, a component supplier to Apple, to set up a manufacturing facility in Maharashtra.
Desai said the government recently introduced a location policy and put in place a simplified procedure for various nods. Industrial units would have to fill just one form, instead of three, for sales tax, shops and establishment cess and professional tax.
On giving a much needed push to the micro, small and medium enterprises (MSMEs), Desai said the government would provide more land in the Maharashtra Industrial Development Corporation-run estates and give constructed units with modern infrastructure to the units.
The government would soon set up a Maharashtra MSME Development Institute to help start-ups. “The institute will help resolve issues with regard to raising funds, preparation of technical feasibility and project reports, bring in partners especially foreign partners, skill development and incubation,” Desai added.