Shillong: Meghalaya Cabinet on Thursday approved the Meghalaya State Investment, Promotion and Facilitation Bill 2024.
This bill will lead to creation of authority, which the Cabinet calling the Investment Meghalaya Authority (IMA) and this will be an authority that will now replace the Single Window Agency that is there in the state.
According to Meghalaya chief Minister Conrad K Sangma the reason this is being done is because the single window agency has been there for a long time. And there are many areas which need to be improved. Hence now with this new bill, this is going to be a unified system, where unified applications will be done through portals and there will be different departments as part of this.
“There’ll be a tracking system to track all the investments or all the applications for investments that are coming to the state will be done. There has been different categorization based on the amount of investment and so the smaller investments below one crore will be cleared by a committee headed by Deputy Commissioner and any investment between 1 and 10 crores will be cleared by committee headed by the chief secretary. Any committee and any investment of more than 10 crores will be sent to the IMA authority which is headed by Chief Minister,” explained Sangma.
He added that this will facilitate the easy application process, easy tracking process and a system that is going to allow ease of doing business and improve the overall ease of doing business in the state of Meghalaya. This Bill approved by the cabinet today will be placed in the House for approval.
