In a significant move to promote ease of doing business in Punjab, Chief Minister Bhagwant Mann has introduced a unique color coding system for stamp papers, making Punjab the first state in the country to do so. The state government's out of the box idea is expected to provide a major fillip to the industry in Punjab and attract more investment in the state, generating new employment opportunities for the youth of the state.
“This is a revolutionary step aimed at promoting ease of doing business for the entrepreneurs desirous of setting up their units in the state”, said the Chief Minister in a video statement issued here on Friday.
Under the system, industrialists can purchase a green color-coded stamp paper from the Invest Punjab Portal, pay the fees required for clearances in the form of CLU, forest, pollution, fire, and others while purchasing the stamp paper only. Once purchased, the industrialist will receive all the necessary clearances from all the departments within 15 days to set up their unit.
"The green color stamp paper will symbolize that the industrialist has already paid the entire fee for the clearances required for industry. This initiative will facilitate the industrialists in a big way by saving their time, money, and energy," said the Chief Minister.
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Bhagwant Mann said that the idea had come from the meetings with the industrial tycoons from within the state and across the country during the run-up for Invest Punjab held earlier this year. He believes that this unique color coding system for stamp papers will emerge Punjab as a front runner state in the industrial sector, attracting more investment in the state and generating new employment opportunities for the youth of the state.
The Chief Minister expressed his hope that this noble initiative will attract more investment in the state, generating new employment opportunities for the youth of the state. He reiterated the state government's firm commitment to ensuring the well-being of every section of the society, and every decision of his government is aimed towards this.
The state government's initiative has been appreciated by the industrialists and is expected to encourage other states to replicate this industrial-friendly initiative. The Chief Minister expressed his hope that this unique color coding system for stamp papers would prove to be a game-changer in Punjab's industrial growth and development.