Source: RBI & Economic Times
The Union Finance Minister during her Budget speech announced the setting up of the Investment Clearance Cell that will provide “end to end” facilitation and support to create more opportunities for youth and remove roadblocks.
About Investment Clearance Cell
- Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) has mentioned that the proposed Investment Clearance Cell in the Budget will link all central government ministries and state departments to provide information on land banks, incentive schemes, and taxation policies to entrepreneurs
- The cell will help an entrepreneur to make a well-informed decision to set up a manufacturing facility in the country.
- The cell will provide all information about incentive schemes and taxation policies of states and centre so that an entrepreneur has the complete information
- Information such as how far a land site, chosen by the entrepreneur, is there from the nearest airport or rail line or highway will also be provided through this cell
- All the land bank details are going to be a part of it and this will be on a live system where one can see which site is where.
- It will provide end-to-end facilitation and support, including pre-investment advisory, information related to land banks and facilitate clearances at the centre and state level. It will work through a portal.
