New MSME Act approved by UP govt, Entrepreneur can get permission in 72 hrs to set up new business

The cabinet has approved the new MSME Act to bring the industrial revolution in UP. With the approval of this act, now it will be approved to set up the industry within just 72 hours of applying for setting up the industry. After this, the entrepreneur will get 900 days to seek other departmental permission related to the industry.

An entrepreneur can apply for Partial Permission on the Investment Friend Portal, from where all the processes related to the permission will go through the eyes of the government.

This new act has been named Uttar Pradesh Micro, Small and Medium Enterprises (Infrastructure and Operations) Act-2020. A state-level nodal agency headed by Commissioner and Director Industries and a district level nodal agency will be set up in districts headed by District Magistrate. The district-level nodal agency will give permission within 72 hours of application in consultation with the departments concerned.

The new Act provides that the entrepreneur will apply for the establishment of the unit at the District Industries Center, from where he will be given a letter of acceptance to set up the industry within 72 hours. After this, the entrepreneur will not need any permission for the next 900 days, he will be able to concentrate and work to grow his industry. The government wants to create a large number of jobs by establishing more and more MSME industries in the state through this new act.

The new Act shall not apply to tobacco products, gutkha, pan masala, alcohol, aerated beverages, carbonated products, manufacturing of firecrackers, polythene carry bags of less than 40 microns. Orange and Green Category Units The unit shall be set up with the permission of the Pollution Control Board within the time limit prescribed by the Regional Officer.

Through this new act, a target has been set to create 15 lakh new jobs in the state in the next year itself. In the new Act, a Facilitation Council will be set up in every division to resolve the issues of MSMEs. Till now there was only one facilitation council in the state. Now the problems related to payment of MSME units will be solved at the level of Mandalayukta. The new Act has also been arranged to comply with the decisions of the Facilitation Council. Arrangements have been made to issue recovery certificates for recovery.