TS-iPASS setting benchmark, says KTR

Telangana is able to give clearances within 15 days of receiving applications from the companies that are willing to set up projects.

By Author  |  Business Bureau  |  Published: 9th Feb 2018  10:35 pmUpdated: 10th Feb 2018  12:13 am
IT Minister KT Rama Rao with former Jammu and Kashmir CM Omar Abdullah and Congress leader Sachin Pilot during CREDAI YouthCon-2018 in Hyderabad. — Photo: Hrudayanand

Hyderabad: Having born in June 2014, Telangana has become a trend setter in every facet in the country. The progressive industrial policy that was brought out by the State government on June 2, 2015 in the form of TS-iPASS have achieved tangible progress giving 6,000 clearances, attracting investments worth Rs 1,20,000 crore, creating 3 lakh direct jobs and double indirect jobs.

Telangana Industries Minister KT Rama Rao, speaking at the second annual Credai Youth Wing Convention, Youthcon 2018 held in Hyderabad on Friday, emphasised that the State has taken all measures to ensure and improve ease of doing business by allowing self-certification process to industry. Telangana is able to give clearances within 15 days of receiving applications from the companies that are willing to set up projects.

“Unlike other places, we don’t have multiple windows behind a single-window. Our system ensures that there are no grills in the window, ensuring a seamless approval process avoiding any room for delays and corruption. Our system is so stringent that the official responsible for the delay in issuing clearances beyond 15 days, is punished with a daily fine till the clearance is given to a project, to ensure there are no bottlenecks,” KTR said.

Addressing the gathering comprising of real estate developers from across the country, the Minister said, “We have introduced development permission management system (DPMS) in the construction sector. This is has improved the overall efficiency. Telangana is making efforts to improve infrastructure but the access to funds remains a challenge and with private participation, situation can improve. The government is taking proactive steps from its side such as raising Rs 1,000 crore through municipal bonds for the first time in the country.”

The government is also making progress in its 8-laning project, for which it has appointed transaction advisor and the works will soon be taken up on toll, operate and transfer basis to monetise the project. “Central government should incentivise progressive States such as ours,” he added.

Economics is more important than politics and leaders such the Prime Minister at the Centre and the CM in the State clearly understand this will bring employment, wealth and welfare to people, he said.

Encouraging dynamism in realty sector, KTR appealed to property developers not to take things for granted and have fire in the belly to lead from the front and achieve greater success. It’s time the developers understand and learn about implementing the new regulations such as RERA that will change the face of the sector.

The Minister launched a joint report brought out by Credai Youth Wing in association with its knowledge partner CBRE, titled ‘The Youth Barometer’, revealing trends on millennials and the impact they make on real estate in India and Asia Pacific. KTR said unlike the global average, India has a large youth population and this offers abundant opportunities to the nation. India is at the cusp of a significant growth and youth will play a crucial role here. Even countries such as the US are looking at ensuring employment and manufacturing to give better future to its citizens.

On the startup front, when asked by a participant from Pune how can Maharashtra replicate T-Hub model, the Minister said like other States, Telangana government can help Maharashtra to create a dynamic startup ecosystem. The State can provide the needed advisory, as it has created a benchmark, and is on way to create the world’s largest incubator by end of this year.