Owing to the recent developments and aggressive moves being taken by Andhra Pradesh and Telangana Chief Ministers to woo investors, Karnataka has finally woken up and decided to do the best thing in such cases – copy the model.
Speaking on the launch of ‘Deemed Approval’ concept, Karnataka’s additional chief secretary, commerce and industries, K Ratna Prabha told the journalists that her department is closely working with other departments that include power, water, pollution etc to understand their process on being able to grant approvals to businesses in a short time (read two to four weeks).
Deemed approval in its simple sense means that if a project is not approved within a stipulated time period by the concerned agency, it is considered to be an approval by the agency and the business can start.
This latest development comes after the state received some wake up calls from its neighbors, Andhra Pradesh and Telangana. What is definitely promising though is that the nation and end consumers will surely benefit by such competition.