National Single Window System for Investors and Businesses Launched
Union Minister for Commerce & Industry, Textiles, Consumer Affairs & Distribution, Piyush Goyal, launched the “National Single Window System” for Investors and Businesses on September 22, 2021.
- National Single Window System is a giant leap, towards making India Aatmanirbhar.
- This system will usher in independence from the legacy of running towards Government offices for approvals and registrations.
- It will also bring in Ease of doing business & Ease of living, do away with the need of paperwork, duplication & information asymmetry from Windows within the system.
- This portal will become a one-stop-shop for investors for the purpose of approvals and clearances.
- As of now, the portal hosts approvals across 18 Central Departments & 9 States. By December 2021, 14 Central departments and 5 states will be added to the portal.
About the National Single Window System
- This portal comprises of all solutions and will be there for all at one click of the mouse by means of ‘End to End’ facilitation.
- It comprises of an applicant Dashboard that will help in applying, tracking & responding to the queries.
- Portal will provide services like Know Your Approval (KYA), Common Registration & State registration Form, E-Communication and Document repository.
Significance of the Portal
- This portal will help in bringing Transparency, Accountability & Responsiveness in the ecosystem.
- All information will be available on a single dashboard.
- It will also provide strength to other schemes like Make in India, Startup India, PLI scheme etc.
Finance Minister had announced an ambitious “Investment Clearance Cell (ICC) in the Union Budget 2020 that will provide “end to end” facilitation & support to investors, pre-investment advisory, information related to land banks and facilitate clearances at Centre & State level. The cell was proposed to operate by means of an online digital portal. Subsequently, DPIIT in association with the Invest India started developing the portal as a National Single Window System (NSWS).
Category: Economy & Banking Current Affairs - 2022
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