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Home >> Ranchi

State forms investment board to fast-track progress of MoUs

| Friday | 24th February, 2017

The Jharkhand investment promotions board has been directed to carry out its duties as an advisory body. According to government sources, the executive board will meet every week to discuss the status of various projects. Ranchi: With an objective to review the status of investment proposals received during the recently held Global Investors' Summit , Momentum Jharkhand, the state cabinet on Thursday notified the formation of the Jharkhand Investment Board under the chairmanship of chief minister Raghubar Das.The investment board will be aided by an executive board formed under chief secretary Rajbala Verma. Following this, a proposal will be forwarded to the executive board for further action," one of the senior bureaucrats in the chief minister's office said. Additional chief secretary or principal secretary in the department of industries will be the member secretary.The executive board, headed by Verma, will have director industries as the member secretary.

Ranchi: With an objective to review the status of investment proposals received during the recently held Global Investors' Summit , Momentum Jharkhand, the state cabinet on Thursday notified the formation of the Jharkhand Investment Board under the chairmanship of chief minister Raghubar Das.The investment board will be aided by an executive board formed under chief secretary Rajbala Verma. Both these boards are over and above Jharkhand Investment Promotions Board, the government department of single window system under the industries department and knowledge partner, Earnst and Young (E&Y) being the present partners.The notification in this regard was issued by the department of industries, mines and geology. Monthly meetings of the investment board, chaired by the chief minister and weekly meetings of the executive board to review progress will be held.Under the newly constituted board, the CM will monitor availability of land, availability of necessary infrastructure for establishment of the industrial units, the status of necessary clearances, physical progress of the investment proposals and any other issues that erupt during the course of time. Verma will be the vice-chairman whereas department heads of nearly a dozen departments will also be members of the board. Additional chief secretary or principal secretary in the department of industries will be the member secretary.The executive board, headed by Verma, will have director industries as the member secretary. According to government sources, the executive board will meet every week to discuss the status of various projects."The investment proposals will be primarily reviewed by the knowledge partner under single window system, along with officials of industries directorate. Following this, a proposal will be forwarded to the executive board for further action," one of the senior bureaucrats in the chief minister's office said. The Jharkhand investment promotions board has been directed to carry out its duties as an advisory body.

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