The green stamp paper symbolizes pre-paid approvals (Instagram: bhagwantmann1)
The Bhagwant Singh Mann-led Punjab government has introduced a groundbreaking initiative to revolutionize industrial growth with the launch of India’s first color-coded green stamp papers. This innovative policy, introduced in 2023, aims to simplify bureaucratic processes for entrepreneurs and create a conducive environment for industrial investments.
At the heart of this initiative lies the green-colored stamp papers, specifically designed for industrialists establishing new ventures in Punjab. Available through the Invest Punjab portal, these stamp papers allow entrepreneurs to pay upfront fees for essential clearances, including Change of Land Use (CLU), forest, pollution, and fire approvals. This system ensures a seamless and efficient approval process, with the government committed to delivering all required clearances within just 15 days.
The green stamp paper symbolizes pre-paid approvals, eliminating bureaucratic delays and streamlining the approval process. This first-of-its-kind solution demonstrates the state government’s commitment to fostering ease of doing business and attracting significant industrial investment.
The idea of color-coded stamp papers emerged during discussions between CM Bhagwant Mann and industrial leaders ahead of the Invest Punjab summit. Recognizing the challenges faced by business owners, Mann devised this “out-of-the-box” solution to enhance Punjab’s appeal as an investor-friendly destination.
Buoyed by the success of the green stamp papers, CM Mann announced plans to extend the color-coding system to other sectors such as housing. This expansion aims to promote better land resource utilization and streamline processes across industries, making Punjab a leader in innovative governance.
In the past 29 months, Punjab has attracted 5,265 investment proposals worth ₹83,857 crore, expected to generate approximately 3,87,806 jobs. The state’s progressive policies, including the introduction of color-coded stamp papers, have positioned Punjab as a preferred destination for industrial investments in India.
Through transformative policies like the color-coded stamp papers, CM Bhagwant Mann’s government has demonstrated its commitment to driving industrial growth, reducing red tape, and creating a business-friendly environment. These measures underscore Punjab’s dedication to fostering innovation and development, propelling the state to the forefront of India’s industrial landscape.
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