The Centralised ‘Investment Clearance Cell’ announced by Government of India as part of the Single Window System is set to become operational by April 15, 2021. The Main objective of the Cell is to act as a one-stop digital platform to obtain central and state clearances/approvals required to start business operations in India.The System will work under Ministry of Commerce and Industry.
i.The cell will eliminate the need for investors to visit multiple platforms or offices physically for obtaining clearances & gathering information.
iii.The portal will integrate the existing clearance systems of different Central Ministries/Departments & State Governments without any disturbance to the existing portals.
iv.The cell will also provide information related to land banks.
Single Window System:
i.It was announced by Union Minister for Finance, Nirmala Sitharaman during Budget Announcement of 2020-21.
ii.The Geographical Information System (GIS) enabled land bank under the Industrial Information System (IIS) is also part of the Single Window System.
iii.Six states – Haryana, Uttar Pradesh, Telangana, Gujarat, Odisha & Goa are part of the GIS enabled Land Bank system.
iv.These initiatives are expected to improve the Ease of Doing Business in India.
Ease of Doing Business:
According to the World Bank’s Ease of Doing Business 2020 report, India was ranked at 63.
Recent Related News:
i.On September 5, 2020, Union Minister of Finance, Nirmala Sitharaman announced the 4th edition of State BRAP Ranking for 2018-19 Andhra Pradesh (AP) topped the Ease of Doing Business (EODB) ranking 2019, followed by Uttar Pradesh (UP) and Telangana at 2nd & 3rd place respectively. Among Union Territories (UTs), Delhi bagged the top spot.
About Ministry of Commerce & Industry:
Union Minister – Piyush Goyal
Minister of State – Hardeep Singh Puri, Som Parkash