KOCHI: The Small and Medium Enterprises (MSMEs) in the state have reason to cheer as the Bill that allows the MSMEs to start operations without prior permission from the government for three years has been published in the government gazette ahead of introducing the Bill in the assembly.
The Bill allows the entrepreneurs to secure the mandatory clearance from departments or agencies concerned three years after operation. They can start ventures with a capital investment up to `10 crore upon furnishing an affidavit. The Bill published in the gazette would be presented in the ongoing session of the house by Industries Minister E P Jayarajan. The Industries Department is introducing the Bill in the house with a view to make the state investor-friendly.
This is expected to give enough freedom for investors to start ventures and avoid the time-loss for securing the clearances before starting the venture.
The districts boards formed as per the Kerala Industrial Single Window Clearance Boards & Industrial Township Area Development Act, 1999, which would act as nodal agency of the scheme, would provide the permission for starting the ventures. The permission is valid for three years.