Facilitate business

Time required to start a business plays an important role in the entrepreneurial initiatives and investment plans.Easy procedures and single-window-clearance-system followed in some countries— or for that matter in fast-growing states like Gujarat, Hyderabad, etc. in India— for legally permitting businesses to start, have direct bearing on the entrepreneurial initiatives as well as the size of investments these places attract. Stringent procedures and rigid official formalities quite often dampen the spirit of entrepreneurs, create impediments in the flow of investments, slowdown economic growth and curtail employment opportunities. Against this backdrop, chief minister, Omar Abdullah’sstrong support for single window clearance system in industrial department and bringing various services related to clearance of industrial units under the ambit of Public Service Guarantee Act (PSGA) is welcome.
We have umpteen number of instances in the state where hectic procedures and rigmarole of official formalities compel the budding entrepreneurs to bury their dream projects, or abandon them midway. A state that has failed to cope with its burning unemployment problem, cannot afford to lose the stock of its entrepreneurs by allowing the procedural hiccups to come their way. In this view of the matter, the constitution of a Secretaries’ Committee headed by Chief Minister’s Principal Secretary is a good initiative. The committee tasked to suggest the mechanism of making single window clearance system in industrial department meaningful, will look into all aspects of Single Window functioning and come up with its suggestions.  The Chief Minister has also directed the Jammu and Kashmir Bank to sensitize its Branch Managers about releasing of sanctioned loans up to Rs. 10 lakh to the budding entrepreneurs without demanding any guarantee of two government employees or asking for mortgaging property as are clear directions of the RBI. This is something that is serving as a big impediment for the entrepreneurs in the state in general and in Kashmir in particular. Jammu and Kashmir Bank has also been asked to ensure clearance of cases sponsored by Entrepreneurship Development Institute (EDI) hassle-free, smooth and time bound so that young entrepreneurs launch their units without any wastage of time. The need of the hour is to implement such laudable initiatives on the ground and see to it that starting business becomes as hassle-free in Kashmir as it is in some fast growing states in India.

Lastupdate on : Tue, 28 May 2013 21:30:00 Makkah time
Lastupdate on : Tue, 28 May 2013 18:30:00 GMT
Lastupdate on : Wed, 29 May 2013 00:00:00 IST




  • del.icio.us
  • StumbleUpon
  • Digg
  • TwitThis
  • Mixx
  • Technorati
  • Facebook
  • NewsVine
  • Reddit
  • Google
  • LinkedIn
  • YahooMyWeb
  • Print News

Enter the Security code exactly as you see it in the image security code is CaSe SeNsItIvE(Cookies must be enabled)
  • MORE FROM EDITORIAL

  • Kashmir

In JK,fortune favors HCC

Company Seeks Rs 21 Crore For Clearing Landslides On Mughal Road, Govt ‘Considering’ Warmly

UMER MAQBOOL

Srinagar, May 28: Emboldened by the J&K government’s “warm attitude” towards its “unfair” demands, the Hindustan Construction Company (HCC) has now sought extra money to the tune of Rs 21 crores from More



  • Srinagar City

3 YRS ON,ADMIN SLEEPS ON DEFUNCT HIGHWAY LIGHTING

Mishaps, burglaries on rise as Athwajan-Parimpora bypass stretch continues to reel under deadly darkness

SYED IMRAN ALI HAMDANI

Srinagar, May 28: Despite threat to life and property of the people, the administration has miserably failed to repair the streetlights on the busy south City highway, which reels under deadly darkness More




  • Jammu

Soldier shoots colleague dead in Rajouri

SUMIT BHARGAV

Rajouri, May 28: A soldier was shot dead by his colleague after a verbal spat on a Forward Post along the Line of Control here late last night. Sepoy Mukesh Kumar of 33 Rashtriya Rifles was killed More



  • South Asia

PML-N govt to try Musharraf for treason: Sharif's aide

PRESS TRUST OF INDIA

Lahore, May 28: The incoming PML-N government is ready to hold the trial of former Pakistani military ruler Pervez Musharraf over charges of treason, a party leader said today. The caretaker government More



  • GKeducation&career

Seven Myths About Civil Service Examination

The exam is not as tough as it is made out to be

DEMYSTIFYING IAS

NAVEED TRAMBOO

Civil service examination is quite an arduous task as most would agree – not only because of the tough competition, but also because of the lengthy time process, which stretches to over a year. Clearly More



ADD
Designed Developed and Maintaned By Imobisoft Ltd /Algosol Software Solutions