In order to create conducive ecosystem for investors, Union Government has requested the State Governments to identify and work on minimizing regulations.
Reducing compliance burden on the Industries is needed most as this will attract more investors.
State Government will minimize the regulations in consultation with the Industry Associations for key sectors of the State and Region’s economy.
Action Plan to minimize regulations is needed to be drawn up by the State Government, officials say.
Offering additional incentives and facilitating the process of land acquisition to attract investors have been advised, said sources.
Ministry of Commerce and Industry has stressed on an enabling environment for economic growth and employment creation as the Novel Corona Virus (COVID-19) Pandemic has disrupted the economy.
Guruprasad Mohapatra, Secretary Department for Promotion of Industry and Internal Trade is engaged in consultation with the State Government.
Hemant Sharma, Principal Secretary Industry has informed the Union Government that State Government is having Single Window Clearance Authority, a mechanism for approvals.
Attending the meeting chaired by Cabinet Secretary, Mr.Sharma has assured that the State Government is ensuring that reforms reach the last point of execution.
Odisha Government is implementing State and District Reforms Action Plan to attract investments, which will ensure reforms at the last mile.
State Government has been advised to implement Ease of Doing Business (EoDB) to avail additional borrowing during this fiscal.
Mr.Sharma said due to COVID-19 Pandemic while there is a slight reduction in the number of proposals received, however, there has been a significant improvement in the proposed investment and employment expected from the new proposals.
Proposed Investment by April- August 2020 has touched Rs.17,514 Crore, which was Rs.8676 Crore in April-August-2019.
This proposed investment will generate 12,846 job opportunities.
Rise in approvals expected as the State Government will be organizing District Level Single Window Clearance Authority (DLSWCA) meetings get organized in the coming months, said he.
While Union Government has undertaken several measures to encourage investments, State Government is also equally taking steps to meet the current challenges faced by the Industries, said Mr.Sharma.
In the meantime, DPIIT has urged the State Government to formulate a Comprehensive Public Procurement Policy (CPPP) and assess the quantum of Public Procurement.
Public Procurement is made by various Departments, Public Sector Undertakings (PSU)s and Urban Local Bodies(ULB)s.
DPIIT has advised the State Government to ensure that there are no discriminatory tender conditions against local suppliers and it has also requested for a Grievance Redressal Mechanism to look into complaints against restrictive conditions against local suppliers.