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Chief Secy stresses industry-friendly regulatory framework

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OST Business Bureau

Bhubaneswar, Dec 6:

jk mohapatraMineral-rich Odisha should accommodate an industry-friendly regulatory framework to facilitate the growth of trade and commerce and not create bottlenecks in the process, said Chief Secretary Sri Jugal Kishore Mohapatra, at an Interactive session on ‘Regulatory Business Environment in Odisha’.

The Roundtable Conference on “Regulatory Reforms for Stimulating and Diversifying Industrial Growth in Odisha’ was organized by Federation of Indian Chambers of Commerce and Industries (FICCI) here on Friday.

“In a democratic set up like India, regulatory framework is unavoidable, though there are some economic thoughts arguing that the market will regulate itself. At some point of time, market itself needs some intervention and regulation. We need to have a more permissive and facilitating regulatory framework,” Mohapatra said.

“At times too much of rules and regulations obsess the executives and delay the process of service delivery,” Additional Secretary Cabinet Secretariat Anil Swarup said adding, “the regulations need to be implemented in their proper perspective.”

“Each industrial and business project should have a clear cut time line for start up, completion and commissioning of the projects failing which land acquired for the purpose remains unutilized,” Dr Taradatt, Additional Chief Secretary Revenue & Disaster Management said on the occasion.

“Land is not an expendable commodity and its supply is fixed. It should be utilized for the purpose within the prescribed time frame so that state and the people get benefit out of it,” he said adding, “Land not utilized for the purpose within a reasonable time will be taken back.”

It is to be noted that Odisha has a substantial industrial base comprising of a number of large medium and small scale enterprises in Steel, Aluminum, Chrome, Power, Textile handicraft and a host of other sectors. Industry sector including manufacturing, mining, quarrying, electricity and gas etc, contribute to around 25% of GSDP. The volume of exports from Odisha has increased from Rs 12,837 crore in 2006-07 to Rs 16,139 crore during 2011-12.