To revive the business sector and boost investor confidence with a business-friendly environment, the Jammu and Kashmir administration has approved a series of measures for simplifying business establishment process, an official spokesman said on Sunday.
As per the decision taken by the Administrative Council (AC), which met under the chairmanship of Lieutenant Governor Manoj Sinha here on Saturday, the pre-requisite ‘no objection certificates’ (NoCs) or approvals have been relaxed for setting up of a business unit, the spokesman said.
He said the Udyog Aadhaar memorandum as per the condition of the Government of India would be the only requirement for a business unit to be set up.
Earlier, as many as 15 NoCs or clearances were required for a business unit to be established, which have now been reduced to a bare minimum.
“These bare minimum NoCs/approvals shall be required subsequently, for which two sets of single-window committees have been established one for business units coming up within industrial estates and another committee for units outside the industrial estates,” the spokesman said.
He said these committees would ensure time-bound issuance of the NoCs or approvals