Investment clearance cell to be set up to offer end-to-end facilitation services: Sitharaman

New Delhi, Feb 1 (KNN) Finance Minister Nirmala Sitharaman, in her Budget Speech in the Parliament, has proposed to set up an investment clearance cell to boost investment and entrepreneurship in the country.

Stressing that Entrepreneurship has always been the strength of India, she said, "I propose to set up an investment clearance cell that will provided end to end facilitation and support including pre-investment advisory, info on land banks and facilitate clearance at state level."

The portal based Investment Cell will provide will offer end-to-end facilitation services both at Central as well as state levels.

To boost electronic manufacturing, FM proposed a new scheme. This, the FM said will promote manufacturing of mobile phones and medical equipment.

India for a millennium has been rich in skills in mettalurgy and trading and entrepreneurship is the spirit of India ad has been its strength. Indians have given up greener pastures to come back to India and look at local challenges, Sitharaman said.

Will create more opportunities for startup owners. Investment clearance cell will be set up for entrepreneurs. These individuals will be offered assistance in funding as well and a portal will be set up for this purpose, she said.

The central government announced on Saturday announced Rs 27,000 crore for development of industry.

''I propose to provide Rs 27,300 crore for development for industry and commerce for year 2020-21,'' said Nirmala Sitharaman.

---------------------