The Department of Industries and Commerce, Government of Punjab in partnership with Global Alliance for Mass Entrepreneurship (GAME) has launched a 2-month long MSME Registration Drive under the Right to Business Act, 2020.
The Government has recently notified the Right to Business Act, which offers an easy process of self-declaration for newly incorporated MSMEs and exempts them from certain approvals and inspections needed to establish and operate in the state for a period of 3.5 years.
The Act provides for a District Bureau of Enterprise (DBE) in each district, under the overall superintendence, direction and control of the State Government and the State Nodal Agency.
The DBE maintains a record of ‘Declaration of Intent’ received, and issues ‘certificate of In-Principle Approval’ under the Act within 3 working days in approved industrial parks and within 15 working days outside the approved industrial parks, as per the recommendations of Scrutiny Committee. After the approval, a new MSME unit will be able to start its project immediately and may apply for Regulatory Approvals within three and half years from the issuance of ‘Certificate of In-Principle Approval.
Click here to read the Notification.
