The Punjab government has initiated a unique initiative by replacing the traditional stamp paper for industries with green stamp paper. This is an online process, which has brought more transparency and eliminated the scope for fraud in land acquisition. After obtaining the necessary approvals for land acquisition, the green stamp paper is issued, through which the industries become eligible to register sale deeds.
In this regard, Punjab Rural Development and Panchayat Minister Tarunpreet Singh Saund said that due to the green stamp paper and the seriousness and sincerity of the Punjab government for the progress and prosperity of industries, the Punjab government has received investment proposals worth Rs 94,203 crore in about 3 years since March 2022. Due to this, more than 4 lakh people will get employment. Saund has also called on other industrialists to invest in Punjab. He said that due to Punjab’s pro-industrial policies, big industrial houses are showing interest in setting up their units in Punjab.
He further said that Punjab’s investment climate is conducive, suitable and peaceful and the Punjab government is working with full dedication for the development of industries. He said that the policies of the state government are also industry-friendly and small and medium entrepreneurs can start their business today by giving an affidavit and the necessary documentation process can be completed within 3 years.
Industries and Commerce and Investment Promotion Minister Tarunpreet Singh Saund said that with this initiative of Green Stamp Paper, the processing of legal documents for industrialists has been expedited. Most importantly, since everything is online, people’s work gets done easily and responsibly.
Saund said that Green Stamp Paper ensures speedy issuance of regulatory approvals to industries. Pre-approvals are given through a single window system within the time limits set by 6 departments. These departments are – Revenue, Housing and Urban Development, Local Government, Punjab Pollution Control Board, Forest and Wildlife, Labour and Factories.
