Central Investment Clearance Cell
The Government of India recently announced that the Central Investment Clearance Cell is to be launched by April 2021. The Centralised Investment Clearance Cell was announced as an integral part of the single window system. The Single Window System is being worked out by Ministry of Commerce and Industry. The idea of establishing Central Investment Clearance Cell was announced by Finance Minister during the Union Budget 2020-21.
About the Central Investment Clearance Cell
- The Central Investment Clearance Cell is being launched to ensure that an investor gets all the required information and clearances under one platform.
- It will act as One-Stop Digital Platform that will help to obtain all the required clearances and approvals.
- It will also provide free investment advisory.
- The cell will also provide information related to land banks and facilitate investment at central and state level.
- The cell will enable potential investors to interact with all the ministries whose approvals are required in the same place.
When the Central Investment Clearance Cell is launched, at least states are expected to join the cell. They are Haryana, Telangana, Uttar Pradesh, Goa, Odisha and Gujarat. This is because these cells are already a part of GIS enabled land bank under the Industrial Information System. This also forms a part of the Unified Single Window Clearance System.
Industrial Information System
It is one of the key initiatives of Department for the Promotion of Industry and Internal Trade. It is operated under Digital India initiative. The IIS portal serves as a one-stop solution for all trades and investors to access industrial information. This includes availability of raw materials, horticulture, agriculture, minerals information, layers of terrain, natural resources and urban infrastructure.
Single Window System
There are several IT platforms in India that have been allocated the duty for clearances. The investors need to visit multiple stakeholders to obtain each approval. The Unified Sigle Window System will ease this process and provide a common platform for all the approvals.
Category: Economy & Banking Current Affairs