Shimla, March 30- Investment Bureau to replace the old single-window system in HP
The government of Himachal Pradesh taking steps to improve the ease of doing business in the state and minimize delays in getting necessary approvals for investment proposals is establishing an Investment Bureau to replace the old single-window system. The Chief Minister, Thakur Sukhvinder Singh Sukhu, stated that the Investment Bureau would have the power to approve investment proposals and be set up under the Industries department.
The Investment Bureau will comprise officers from all concerned departments, who will work together to ensure investment cases are processed quickly and efficiently. Additionally, penal provisions will be in place for officers responsible for any delays. The bureau will consist of two committees, an executive committee responsible for overseeing investment cases on a day-to-day basis, and an apex committee headed by the Chief Minister himself, responsible for approving investment proposals.
The Investment Bureau aims to expedite the approval process, allowing investors to start their work soon after applying. The state government will make necessary amendments to empower the Investment Bureau. The government expects investments in tourism, IT, solar energy, green hydrogen, and other sectors. According to the Chief Minister, these investments will generate revenue for the state exchequer and create employment opportunities for the youth. He believes that establishing the Investment Bureau will reduce delays and streamline the process of doing business in the state, attracting more investors and strengthening the state’s economy.
Establishing an Investment Bureau is a step in the right direction for Himachal Pradesh. The move will undoubtedly improve the ease of doing business in the state and attract more investors to the region. By streamlining the investment process, the government hopes to generate more revenue and create employment opportunities for the youth