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Punjab cabinet paves way for deemed approval of regulatory clearances, auto-renewal for industrial projects ANI | Updated: Feb 19, 2021 22:43 IST Chandigarh (Punjab) [India], February 19 (ANI): To facilitate new industrial projects to take off without delay, the Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Friday gave the nod to amend the Punjab Bureau of Investment Promotion Act, 2016 (PBIP Act, 2016) to incorporate provisions for automated deemed approval of various regulatory clearances. Enabling the provision would not only expedite speedy approval/clearances but also assure industrial units of a time-frame within which clearances would be granted. With this Punjab becomes one of the few states to grant deemed approvals.

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