How Chhattisgarh Is Aiming To Lead India In Ease Of Business
Investgarh Chhattisgarh: How Bhupesh Baghel’s Government Is Aiming To Lead India In Ease Of Business
*This is in partnership with BloombergQuint Brand Studio
Investgarh Chhattisgarh is the new slogan ringing in Naya Raipur’s Mantralay corridors. It’s the new anthem of Chief Minister Bhupesh Baghel’s government to attract more investment into the state. The state government’s drive to finetune its policies and create the right environment for business and investment has been its focus for some time now.
A great investment destination
After long and gloomy pandemic dominating headlines with resulting losses for businesses and industries, Chhattisgarh has great news. First is the state’s quick economic recovery, and the second added feather to the state government’s cap is that it has managed to retain its sixth position in the ease of doing business. Maintaining the sixth place since 2018 is an achievement, as the state has done the same despite extended Covid lockdowns. The quick recovery has been possible because of the state government’s excellent implementation and improvement of its industrial policies along with relief to citizens and industry. On top of this, the investments that the state has received are substantial—₹10,228 crores between October and December 2020, a clear indication that the new industrial policy has been welcomed by private investors who have shown their approval through investing in the state. Also, this was achieved more through private investment in the manufacturing sector, which is no mean feat.
Ease of doing business explained
The ease of doing business ranking is given by the World Bank after a detailed survey. Its purpose is to help users rate investment destinations. Policies, online transactions, completion of work within the time limit, resolving industrial disputes, clearance time and levels, etc., are all considered while analysing data and collating this ranking.
Leadership is key to Chhattisgarh’s success
Under Chief Minister Bhupesh Baghel leadership, the industrial policy advancements in the state have been consistent since the formation of his government a little over three years ago. In the period, the state government has signed 104 MoUs for setting up industries, and the proposed capital investment for these projects exceeds ₹42,000 crore. This mega-push is expected to generate 64,000 new jobs in Chhattisgarh.
Policy Initiatives by the government
This positive atmosphere for investment has been achieved by multiple, well-designed initiatives that are investor-centric, such as:
· Timely service delivery through the Lok Sewa Guarantee Adhiniyam.
· Setting up of high-level enabling institutions like; State Investment Promotion Board (SIPB), Chhattisgarh State Industrial Development Corporation (CSIDC), Chhattisgarh Infotech Promotion Society (CHiPS) and Naya Raipur Development Authority (NRDA).
· Single window facilitation centre for investment promotion both in Industrial and Infrastructure projects.
· An online procedure for issuing all types of sanctions, approvals, etc., being implemented, including electricity connection.
· Online payment of all state levies and taxes.
· Filing of online returns annually and returns reduced to only two, in place of 32 earlier.
· Introduction of e-Registration in place of manual registration
· Common application form for all kinds of taxes is under development.
· Simplified tax refund by making payment directly into the firm’s account within 60 days.
· Deemed approval for diversification of land.
· Labour compliances & voluntary compliances.
· Only one register is to be maintained for non-hazardous industries and not 65, as earlier.
· Risk-based inspection/audit is under process
· Inspection once in five years, only for suggestive measures.
Upcoming Summit for Global Investors
The upcoming Investgarh Chhattisgarh Global Investors Summit aims to further the cause of getting more investment opportunities into the state. The platform aims to highlight varied investment opportunities, public-private partnerships, native company partnerships, business collaborations and other development projects.
The government is making all efforts to bring investment opportunities in Chhattisgarh under one roof to help investors make the right connections and take the right decisions. With the advent of Industrial Policy 2019-24, the government of Chhattisgarh is clearly showcasing its new business-friendly ecosystem and wants to leave no stone unturned in convincing investors about the state’s solid infrastructure development, business-friendly environment, bespoke policies, inclusive development plans, social relationships, social norms and civic participation.