Hyderabad: The Telangana Legislative Assembly on Thursday unanimously approved the new industrial policy ‘Telangana State Industrial Project Approval and Self-certification System Bill, 2014’ with minimum inspections and maximum facilitations.
The Act accords Right to Single Window Clearance for industrial proposals with ‘zero corruption’ to investors willing to set up industries in the state. Penal action will be imposed on officials concerned who delay the approvals without valid reasons.
The Act identified 14 thrust areas with a plan to develop six industrial corridors, minimum inspection and maximum facilitation, development of the required infrastructure for the sector specific parks in such a way that an investor can start his work on Day-1 from the allotment of land. These are among several steps incorporated in the new policy.
The government also promised to repeal or change the old laws after reviewing their impact on the industry. All the statutory clearances will be taken at the industrial park level by Telangana State Industrial Infrast-ructure Corporation so that investors are free from the burden of securing these permissions individually.
