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Punjab announced reforms in MSME sector to reduce regulatory burden

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The Punjab government said on Thursday that it has prepared a set of reforms to reduce the regulatory burden on MSMEs through logic and digitization, which aims to focus on increasing its operations amid the COVID-19 epidemic.

Chief Minister Amarinder Singh said in an official statement here, the reforms aimed at improving flexibility and reducing oversight in labor regulations and forwarding data on delays in service delivery are focused on easing entrepreneurship in Punjab.

He underlined his government’s commitment to staying connected with significantly reducing time, risk and cost to free entrepreneurs to focus on development.

The Chief Minister said that with these reforms, commitments were set for future changes, including rationalizing trade licenses with the Shops and Establishments Act and removing the terms of imprisonment from 100 low-risk provisions in non-labor related regulations. is.

In addition, they announced that the number of labor registers would be reduced, requiring an entrepreneur to be less than 60 to 14, and increased flexibility in hiring female employees.
Discretionary powers of inspectors are being removed in relation to deductions related to absenteeism or leave. He said these changes would be incorporated into the new state regulations.

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To ensure the timely delivery of key licenses and permits, the government has introduced a monthly data-driven evaluation mechanism under the Chief Secretary, to ensure that not a single license or permit is delayed beyond the stipulated period.

It is also proposed to reduce the number of pre-commission licenses and NOCs for starting at least 20 percent of the business, so the government never interrupts an entrepreneur to start a new shop or factory, it is completely With the possibility of being online. Detected according to the statement.

In addition, land use changes will be made to start new businesses and mechanisms will be developed for timely and hassle-free water, electricity and sewage connections.

He said, “These reforms are the beginning of a journey, and we hope that Punjab will create a lighthouse state for the development of MSMEs (micro, small and medium enterprises). He said, we have listened to the entrepreneurs on the ground and We will continue this. ” Reduce compliance burden to start, operate and grow a business.

He said that Punjab provides one of the best ecosystems for entrepreneurs.

Under his government, Punjab has emerged as a hub for its unique business-friendly ecosystem that promotes entrepreneurship and attracts entrepreneurs from all corners of the globe. He said that the proof of this is the attainment of investment of about 80,000 crores with the proposed employment of 3 lakh persons in the last 4 years.

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In particular, Punjab has a strong industrial base of over 2 lakh MSMEs.

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