New Delhi: The Narendra Modi government’s proposed single window clearance for investors should be ready by March end and will allow them easy access to policy makers at the central and state level, senior government officials said Monday.
The window was mooted in this year’s budget and was aimed at improving the ease of doing business for investors and attracting more investments into India.
Addressing the industry lobby group Confederation of Indian Industry Monday, Finance Minister Nirmala Sitharaman said that the work on a single window clearance for investors is on.
“Effective unified single window will be made available to investors so that access to policymakers and regulators will be available,” she said. Sitharaman assured the industry that the Modi government will continue with the reform momentum.
Speaking earlier at the same event, Guruprasad Mohapatra, secretary, department for promotion of industry and internal trade, said that the work on the window should be completed by March end.
“Through the portal, the investors can interact with all ministries of the government of India as well as the states,” he said. “Through this, they can not only get information on status of approval but it will also enable faster approvals.”
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Faceless tech for indirect tax regime
Among other things to improve the ease of doing business, the government is also looking at bringing in faceless technology in its indirect tax regime.
In her address, Sitharaman talked about how faceless assessment and faceless appeals will change the way taxpayers and the taxmen interact and hinted that the indirect tax regime may see something similar soon.
She also talked about the steps taken by the Modi government to promote manufacturing in India as well as attract investments in the infrastructure space.
She pointed out how even in the months of the pandemic, sovereign wealth funds have expressed interest in investing in the Indian infrastructure space.
She further said the Atma Nirbhar Bharat initiative of the government enables investors and businesses to reset the way they conduct business. Sitharaman added that the government is working with the Reserve Bank of India to ensure that the pandemic doesn’t affect viable units.
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