Incentives for investors: Uttar Pradesh government launches online system

The state government on Saturday launched an online incentives management system (OIMS) under the Nivesh Mitra Portal to provide online incentives for all policies and to streamline the process in advance of the Up Global Investors Summit (GIS) scheduled for February of next year.

According to the government, incentives will be handled, approved, and paid through this centralised mechanism.

The government of Chief Minister Yogi Adityanath has set a target of luring investments of Rs 10 lakh crore for the UP GIS. To accomplish that, the government claims to be providing several incentives to investors. The government has made provisions to ensure that all incentives are processed online and that investors don’t need to visit numerous offices in order to complete the same task in order to strengthen efforts to attract investments through “Ease of Doing Business” and “Ease of Starting Business.”

As per the government, the portal has been developed in such a way that it will automatically understand the business trend and give an opportunity to apply the incentives available under the policy of the concerned department. The portal will also ensure that the process of incentive is processed online in the concerned department and the investor can track its status at each stage.

The portal will also have a leadership dashboard, which will be used by the department heads concerned to monitor the online incentives process of investors. This will help in timely and transparent disposal of incentives, official sources said.

The portal will also be utilised to upload and submit the committee meeting agenda and evaluation of nodal agency and departments, as well as to issue a Letter of Comfort (LOC). According to the government’s press release, “In a sense, this portal would operate as a one-stop solution for the investors for all their incentive related difficulties.”

In order to provide investors with all the information they need about investing in the state and to entice them to do so, the “Nivesh Sarathi” portal has also been developed.

Investors will receive a variety of supports through the Investor Relationship Management System (IRMS) on the portal even after making an investment. This allows for the monitoring of all investment types. This allows for the monitoring of all investment types. According to the government, investors will be able to use this portal to submit their investment intent, track their projects and investments, and receive benefits.

On this portal, 35 nodal officers from various departments will collaborate to address investor concerns.

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