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Jammu and Kashmir government today decided simplify the process for setting up business, providing a major relief to young entrepreneurs of the state.
The government has decided to do away with cumbersome process of seeking no-objection certificates from different departments to set up unit and simplifying the process with a one page declaration at the time of setting up a unit, an official spokesman said.
He said this was decided in a high-level meeting chaired by Chief Minister Mehbooba Mufti today.
As per the decision taken, any entrepreneur will be required to fill a single page declaration form, instead of visiting after various departments to get no-objection certificatebefore starting unit, the spokesperson said.
However, applicants will have to seek NoCs from Pollution Control Board and Electricity Department, which also have to issue the certificate within 60 and 30 days, respectively, after which these departments would be presumed to have issued NoCs in favour of the unit holder, the official added.
The meeting was convened by the chief minister in the backdrop of a session with some young entrepreneurs from different parts of the state on last Saturday.
The official said during the meeting with the young entrepreneurs, most of them trained by Entrepreneurship Development Institute (EDI), flagged many problems, including the cumbersome process of seeking NoCs from different departments.
The chief minister had assured them to look into their grievances and convene a high level meeting shortly to address their issues.
Another major decision taken in the meeting today was to set up a specialised unit of JK Bank at EDI to facilitate the trained entrepreneurs in a single window mechanism by hassle free credit.
The spokesperson said similar special desks and units will be set up at regional and district levels by the JK Bank.
The move is expected to help the entrepreneurs in easy accessibility to credit without going from one branch to another.
Addressing the meeting, the chief minister directed all concerned departments to play a positive and constructive role in the successful execution of the scheme.
She said JK Bank has an important role in the successful implementation of these startups by making available hassle free credit to young entrepreneurs.
She asked the bank management to undertake capacity building of their cadre in sync with the scheme.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)