The Hindu Business Line : TN Govt plans new Act to cut red tape

Chennai, Sept. 9 The Tamil Nadu Government is planning to come out with a new Act - Business Facilitation Act – that will facilitate business and industry units to start their operations after completing various formalities including building plan sanctions and approvals for converting land for industrial use, in a shorter time frame of two months.

The new Act may come into force within the next four months, said the State Industries Secretary, Mr M.F. Farooqui. Addressing the audience at the National Executive Committee Meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), he said, “Unfortunately, something happens at the lower end and it delays the entire process. Through this Act, the dealings with the lower level employees will be eliminated.” Talking about the present favourable investment climate in the State, he said, the Government expects to end the year with investment worth of Rs 50,000 crore of which contacts for Rs 32,000 crore have been signed so far.

On infrastructure developments that are taking place in the State, he said to boost the two-way trade, we have to improve the evacuation facilities in the ports. In the first stage, the Government is building an elevated road corridor from Maduravoyal to Chennai Port. More bridges are being built in Chennai to remove the traffic bottlenecks.

The State Public Works Minister, Mr Durai Murugan, explained the Vision Statement of the State Government that included proposed Integrated Textile policy to promote spinning and knitwear units and setting up of a centre for excellence in chip and electronic hardware design.

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TN Govt plans new Act to cut red tape