What is MoU Monitoring Mechanism of Uttar Pradesh?
Published: June 6, 2020
Uttar Pradesh has introduced a Memorandum of Understanding (MoU) Monitoring Mechanism in a move that aims at better implementation of investment proposals through hand holding interested investors and better tracking of the MoUs signed.
A new MoU tracking portal that will be integrated with its single window system Nivesh Mitra. Besides, all concerned departments will have to assign nodal officers for implementation of the MoUs and multi -level review meetings will be held by the MoU department every month.
There are two key changes that will be brought about with the introduction of this mechanism- firstly, all interested investors will have one dedicated officer to reach out to and secondly, the concerned department will have to take ownership which will help in fixing accountability.
As part of the mechanism, review meetings of MoUs with investment proposals of more than Rs 2,000 crore of agriculture and allied sectors will be presided over by the commissioner of agriculture production whereas proposals greater than Rs 2,000 crore for other departments will be chaired by the IIDC.
Similarly, review meetings with MoUs of investment amount between Rs 500 crore and Rs 2,000 crore will be presided over by the additional chief secretary or principal secretary or secretary of the department which the MoU concerns. All proposals below Rs 500 crore will be reviewed by divisional commissioners.
Month: Current Affairs - June, 2020