New Delhi: In a bid to promote investment in Bihar, the Samrat Chowdhury government has decided to make it mandatory for all investment proposals to be given approval within 30 days, an official statement said here on Tuesday.
If no decision is taken by the authorities concerned within a 30-day time limit, 'deemed clearance' will automatically be granted, said the statement issued by the Chief Minister's Office(CMO).
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"The decision has been taken to accelerate Bihar's industrial development, generate large-scale employment, and strengthen economic self-reliance. It has now become easier for investors to establish industries in Bihar. The government has prioritised a simple, transparent, and time-bound approval system. The objective is to simplify all procedures related to setting up industries and completely eliminate unnecessary delays and administrative complications for investors", it said.
Under the Bihar Industrial Investment Promotion Act, 2016, the State Investment Promotion Board (SIPB) secretariat has been authorised as a Single Nodal Agency and granted extensive administrative and legal powers.
"When the SIPB secretariat completes the technical examination and recommendation of an investment proposal, the competent authority must grant approval within 30 days or within the prescribed time limit. This arrangement will not merely be an administrative instruction but a legally binding provision", it said.
If any department or competent authority fails to make a decision within the prescribed period, the SIPB secretariat will issue deemed clearance in the interest of investors. Such approval will be mandatory for the concerned department to honour, and there will be no provision for reconsideration, it added.
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To make the new system more effective, competent officers from various technical and regulatory departments will be deputed directly to the SIPB secretariat. These officers will work under the administrative control and supervision of the Industrial Development Commissioner, enabling faster decision-making through a single platform. This step will further strengthen Bihar's progress toward becoming a self-reliant and developed state, it said.
Besides, the state government will establish comprehensive Standard Operating Procedures (SOPs) for all approvals related to the establishment, operation, and expansion of industries. This will ensure transparency, accountability, and efficiency in the approval process.
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