Chandigarh, June 24:
In order to give further fillip to industrial development in the state, the Punjab Cabinet led by Chief Minister Bhagwant Mann on Friday gave nod for amending the Punjab Right to Business Rules, 2020 to include expansion by existing units under the purview of the Punjab Right to Business Act 2020.
A decision to this effect was taken in the meeting of the council of Ministers held here at the Punjab Civil Secretariat-I under the chairmanship of the Chief Minister.
Divulging the details, a spokesperson of the Chief Minister’s Office said that to promote Ease of Doing Business (EoDB) in the state, the Punjab Right to Business Act, 2020 was notified on February 6, 2020 and subsequently the Punjab Right to Business Rules, 2020 were also notified on July 29, 2020. These were applicable to the newly incorporated Micro, Small and Medium Enterprises (MSMEs) in Punjab. But the new amendment in the Punjab Right to Business Act, 2020 will provide an enabling ecosystem for self declaration, exemptions; expedite approvals and inspections for existing MSMEs too, for expanding and operating in the state.
But with this significant move all the existing enterprises undertaking expansion will be eligible to get certificate of in-principle approval for seven services covered under the Act. As per the amendment, the existing MSMEs undertaking expansion will be able to fast track completion of their expansion after grant of certificate of in-principle approval within five working days to existing units in Focal points and within 20 working days to existing units outside the Focal points.
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