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Bonanza for investors
The new industrial policy unveiled by the Telangana State government has notched up a national record by incorporating a clause where the prospective investor or entrepreneur is vested with the ‘right to clearance within a specified time limit’. Telangana becomes the first State in the country to do so. The policy has also outlined clear procedures to make the entire process of setting up industries corruption free.
Right to clearance within a specified time limit-A first in India
Policy Features
- Online system for application, issue of licenses
- Provision of automatic approval on submission
- Deemed approved if permissions not given set time limit
- Penal action against officials for violating time limit
- 10% water reserved for industries
Hyderabad: The new industrial policy unveiled by the Telangana State government has notched up a national record by incorporating a clause where the prospective investor or entrepreneur is vested with the ‘right to clearance within a specified time limit’. Telangana becomes the first State in the country to do so. The policy has also outlined clear procedures to make the entire process of setting up industries corruption free.
In the august presence of top industrialists, representatives from foreign embassies and local entrepreneurs, Telangana Chief Minister K Chandrasekhar Rao released the policy statement here on Friday, which makes his own officers liable for penal action if they fail to act on the project application within the time frame. About 2,000 industrialists were present at the launching ceremony organised by the State government at HICC. “We are not here to create hype, let our work speak. Do your business with peace,” Rao said.
He assured the industrialists that his government will make Telangana and Hyderabad the most happening place in the country. The Chief Minister further said that the government will take care of the infrastructure and other needs of the industry, for example, the government will take up the running of the effluent plant at the proposed pharma city. “We want the industrialist to focus on business and the government will act as the facilitator”, he added
For implementation the policy was divided into three initiatives- TS-iPASS Act and rules, T-IDEA scheme and T-PRIDE scheme. It will function at three levels: Mega projects (over Rs 200 crore), Large project and SMEs. After applying for clearance, the project will get license in 15 days for mega and large project and 30 days for SMEs, failing which penal action will taken against the concerned officers responsible for the delay.
Launching TS-iPASS framework, the Chief Minister said the government has set up a ‘chasing cell’ which will be responsible to get all clearances for the projects. Stating that the system works totally free from corruption, Rao said that officer responsible for delay will have to pay a penalty of Rs 1,000 per day. Legislation was already passed by the government to give legal teeth for TS-iPASS.
A website was also launched by the Chief Minister, which will enable entrepreneurs to apply online; however, depending on the size of the project, the entrepreneur may have to visit the Chief Minister’s office only once to demonstrate the seriousness of the investor in setting up of the project.
The Government identified 14 core areas which include life sciences, pharma, Information Technology, aerospace, automobiles, textiles, minerals and transportation and logistics. Responding to the policy, various CEOs and captains of industry including YC Deveshwar of ITC, GM Rao of GMR, GV Krishna Reddy of GVK, BVR Mohan Reddy of Cyeint, Sangeeta Reddy of Apollo, Rajesh Agarwal of Micromax, Prasad Rao of BHEL praised the policy and expressed their support for it.
Under the policy, there will be special incentives for entrepreneurs belonging to women, SC and STs categories. It gives authority to TSIIC to secure statutory clearances for industrial parks. The Chief Minister also launched the State’s solar power policy at the same venue.
ITC to invest 8k crore
ITC chairman Y C Deveshwar had announced that his company is preparing to invest about `8,000 crore in Telangana. ITC is working on three projects in the state: a second star hotel project with an investment of `1,000 crore in Cyberabad, a mega food processing park in Medak with an investment of `800 crore and the remaining will go to double the capacity of Bhadrachalam Paper Board to 1 million tonnes.
Celkon unit next week
Mobile phone maker Celkon Mobiles said it will launch its manufacturing facility at Medchal near next week. The leading smartphone player announced that its state-of-the-art facility is all set to be inaugurated. The unit will begin with four production lines and will eventually enhance its capacity to higher levels.
