Centralised investment clearance cell

Centralised investment clearance cell

Question : On December 31, 2020 ‘Department for Promotion of Industry & Internal Trade’ announced the deadline of the establishment of ‘Centralised investment clearance cell’. What is the deadline for it ?
(a) by 15 April, 2021
(b) by 15 February, 2021
(c) by 15 January, 2022
(d) by 15 September, 2021
Answer (a)
Related facts

  • On December 31, 2020 ‘Department for Promotion of Industry & Internal Trade’(DPIIT) announced the deadline of the establishment of ‘Centralised investment clearance cell’.
    This announcement made on the occasion of the release of the ‘Year End Review 2020’ of the DPIIT.

Deadline

  • Above mentioned Investment clearance cell(ICC) would be established by 15 April, 2021.
    It is notable that ICC was first mentioned in the budget(2020-21) speech of the Finance Minister Nirmala Sitharaman.

ICC

  • It will will provide “end to end” facilitation and support, including pre-investment advisory,information related to land banks and facilitate clearances at Centre and State level. It will work through a portal.
  • This national portal will integrate the existing clearance systems of the various Ministries/Departments of Govt. of India and State Governments without disruption to the existing IT portals of Ministries.

Year End Review 2020

  • The major highlights of the Department for Promotion of Industry & Internal Trade during the year 2020 are as follows :–
  1. EASE OF DOING BUSINESS –
  • To improve Ease of Doing Business in the country, the emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient and effective.
  • The DBR, 2020 acknowledges India as one of the top 10 improvers, third time in a row, with an improvement of 67 ranks in three years.
    It is notable that doing business rank in 2019(63) is much better than 2016(130) and 2009(133).
  1. Production-Linked Incentive Scheme
  • To provide a major boost to manufacturing, the government has launched Production-Linked Incentive (PLI) Scheme for 13 sectors, 3 sectors in March 2020 and 10 sectors in November 2020 with an outlay of Rs 1.97 lakh crore over the next five years.
  1. Industrial Information System(ISS)
  • DPIIT has developed an Industrial Information System (IIS) which provides a GIS-enabled database of industrial areas including clusters, parks, nodes, zones, etc. across the country to help investors identify their preferred location for investment. 3390 industrial parks/estates/SEZs in 4.76 lakh hectares have been mapped on Industrial Information System (IIS) along with net land area availability.
  • Total number of states onboarded to ISS is thirteen.
  1. One District One Product(ODOP)
  • DPIIT is working on the initiative of One District One Product to forward the vision of AtmaNirbhar Bharat.
  • It can be extended as a national movement to create a pool of 739 products from 739 districts in India.
  1. FDI Statistics
  • During the first seven months of F.Y. 2020-21, total FDI inflow increased by 11% from USD 42.06 billion (April, 2019 to October, 2019) to US$ 46.82 billion (April, 2020 to October, 2020).
  • FDI equity inflow increased by 21% to US$ 35.33 billion (April, 2020 to October, 2020) from US$ 29.31 billion reported in the same period of previous financial year.
  1. INTELLECTUAL PROPERTY RIGHTS
  • Figures of IPR filings and registered in 2020-21 are as follow —

By — Pankaj Pandey.

Link:
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1685013