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The State Cabinet decided to streamline the process for the setting up of new MSMEs by easing out most of the prerequisite licences or (NOCs), barring NOCs for power connection and fire safety.
The proposed Rules will exempt MSMEs from certain approvals and inspections, required for establishment and operation in the State for 3 years. An MSME in Assam can now start operation upon receipt of an Acknowledgement Certificate from the State nodal agency by submitting the Declaration of Intent .
“If it won’t matter in five years, don’t spend more than five minutes worrying about it.” Sounds familiar? This concept is popularly known as the “5x5 Rule.” This rule implies that the number five has its own significance in different fields.