Incentives, portal: How Punjab aims to ease business, draw investments

Indian Express

a day ago

Punjab Chief Minister Bhagwant Mann and AAP supremo Arvind Kejriwal Tuesday unveiled 12 initiatives to help ease of doing business terming these as Punjab Udyog Kranti.
They also launched the 'FastTrack Punjab Portal', set up for the purpose.
A look at how it will help the people.
The initiatives
The Punjab Udyog Kranti initiative introduced 12 reforms aimed at improving ease of doing business and unlocking industrial potential.
The government has significantly reduced compliance burdens by implementing a deemed approval system.
The portal serves as a single-window clearance system, eliminating bureaucratic delays, while the expanded Right to Business Act allows automatic approvals for projects under Rs 200 crore. Additionally, self-certification for building plans and fire safety norms streamlines regulatory processes, making Punjab one of India's most business-friendly states.
The initiative also focuses on unlocking land value by introducing a digital Land Feasibility Certificate, expanding land-use categories, and enabling leasehold-to-freehold conversions for industrial plots.
To foster growth, Punjab is opening 260 new industrial plots, and investing Rs 300 crore in infrastructure upgrades.
By simplifying regulations, modernising approvals, and supporting industries financially, Punjab is positioning itself as a national leader in investment and economic development.
Deemed Approval System
The Deemed Approval System ensures that all necessary approvals and clearances for setting up or expanding a business are granted within 45 working days.
Previously, clearances could take 60 to 120 days, causing uncertainty.
Now, applications are reviewed online within 7 days, and if no decision is made within the deadline, approval is automatically generated through the portal.
This system will enhance accountability.
Fast-track portal
Unlike earlier systems where investors had to navigate multiple departments, fast-track Punjab is a single-window portal for regulatory approvals.
It provides end-to-end clearances across different sectors with a digitally tracked workflow, auto-escalations, and real-time updates.
Right to Business Act
The Right to Business Act has been expanded, allowing projects with up to Rs 125 crore in plant and machinery investment (Rs 200 crore including land and buildings) to receive in-principle approvals.
If located in an industrial park, approvals are granted within 3 days; if outside, they take 15 days.
These remain valid for 3.5 years, benefiting around 95 per cent of new projects, including hospitals, hotels, IT units, and educational institutions.
Building plan approvals, fire safety norms
The government has introduced self-certification for both building plan approvals and structural stability certificates, eliminating the need to rely on a limited number of government-approved experts. Fire safety norms have also been simplified, allowing architect-prepared fire safety drawings to be accepted.
The validity of fire NOCs has been extended from one year to up to five years, reducing compliance costs for businesses.
Land Feasibility Certificate
The digitally delivered Land Feasibility Certificate, will be issued within 15 working days by revenue officials.
This certificate verifies land ownership, zoning, and siting, helping investors navigate subsequent approvals for construction and environmental permits with clarity.
The permitted land-use categories have been expanded for industrial plots from 2 to 10, allowing conversion for IT, offices, educational institutes, commercial purposes, and industrial parks.
Addition ally, landowners can apply for conversion after 5 years of allotment, increasing flexibility and land value for industrial estates.