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Incentives for investors: Government of Uttar Pradesh establishes online system

The UP GIS has a target of luring investments of Rs 10 lakh crore, according to the government of Chief Minister Yogi Adityanath. According to the government, there are many incentives available to investors in order to achieve that goal.

The state government on Saturday launched an online incentives management system (OIMS) under the Nivesh Mitra Portal in anticipation of the UP Global Investors Summit (GIS), which is scheduled for February of next year. OIMS will provide online incentives for all policies and streamline the process. The government stated that incentives will be authorised, processed, and paid through this centralised mechanism.

The UP GIS has a goal of luring investments of Rs 10 lakh crore, according to Chief Minister Yogi Adityanath's administration. In order to achieve that objective, the government claims to be providing investors with a variety of incentives. The government has put in place rules that require all incentives to be processed online, saving investors from having to visit numerous offices in order to complete the same task, in an effort to boost efforts to attract investments through "Ease of Doing Business" and "Ease of Starting a Business."

According to the government, the portal was created in a way that it will automatically recognise the business trend and provide a chance to utilise the incentives offered under the policy of the relevant department. The site will also make sure that the incentive process is completed online in the relevant department and that the investor may follow its progress at each level.

The portal will also include a leadership dashboard, which will be used by the concerned department heads to keep an eye on the investors' online reward programme. Official sources stated that this will facilitate the prompt and transparent disbursement of rewards.

The LOC, committee meeting agendas, and committee meeting evaluations of nodal agencies and departments would all be uploaded to and forwarded via the site. According to the government's press release, "in certain ways, this portal will serve as an all-in-one resource for investors with regard to incentive-related issues."

Additionally, the "Nivesh Sarathi" portal has been established in order to inform and entice investors with information about investing in the state.

Investors will receive a variety of help even after making an investment thanks to the Investor Relationship Management System (IRMS) on the platform. This also makes it possible to keep track of various kinds of investments. The government stated that using this platform, investors will be able to submit their investment intent, track their investments and projects, and obtain benefits.

To address investor complaints on this platform, a total of 35 nodal officers from several departments would collaborate.

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