Rajasthan Assembly passes MSME Bill, increases approval/inspection exemption period to 5 years

Jaipur, Mar 21 (KNN) The state assembly of Rajasthan approved the Rajasthan Micro, Small, and Medium Enterprises (Facilitation of Establishment and Operations) (Amendment) Bill, 2023 in the House on Monday.

The exemption of any enterprises from any approval or inspection or any provisions relating thereto under any Central Act has been extended from 3 to 5 years from the date of issue of the Acknowledgement Certificate under section 5.

Shakuntala Rawat, Industries Minister told the assembly that the state government is providing opportunities to set up industries for every section of society.

“It has been decided to increase the exemption period from 3 to 5 years. To encourage the youth, the state government has given all kinds of exemptions to set up industries,” she added.

After enactment of Rajasthan MSME Act-2023, she assured that the industrial sector will be strengthened at the national and international levels and the economic and social strata of the state will change.

After the discussion the assembly passed the bill by voice vote.

Giving a brief about the objectives and reasons of the bill, the Industries Minister said the aim is to give impetus to the economy and to obtain various approvals of the state government.  (KNN Bureau)