Kerala announces measures to speed up investment

To speed up investments in Kerala, state Industries Minister A.C. Moideen on Friday said that it had been decided if the various committees that inspect investment proposals do give a clearance in 30 days, the project can be deemed cleared.

"Officials who do not do their job cleanly and put up roadblocks in front of these investors would be strongly proceeded against, likewise a Rs 5 lakh would be levied on those investors who furnish false affidavit for approvals and each license issued would be valid for five years," he told reporters here.

Moideen also pointed out that the government is open to investment proposals which will work out to the good of the state, but they should be environment-friendly.

To help the officials in giving clearance, an online system - Kerala Single Window Interface for Fast and Transparent Clearance (K-SWIFT) - would go live in September, he said, adding that the state government would support import of granite and sand for those engaged in the construction sector.

--IANS

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