Start-ups can pay for licenses online | SupportBiz

Policy Notes

Start-ups can pay for licenses online

RBI will regulate international payments and CGA will maintain all government accounts.

The Department of Industrial Promotion and Policy (DIPP), a department under the Industry Ministry has made a proposal for a new e-business model. This model has been proposed to help entrepreneurs who want to start a new unit apply for all the necessary licences and approval, online.

The Industry Ministry is currently trying to work out a payment scheme to help make this project operational. Representatives from the Controller-General of Accounts (CGA) and Reserve Bank of India (RBI) will be consulting with the Industry Ministry on the payment options for this project. The meeting is likely to take place on March 19, 2012.

The RBI and CGA will play very specific roles in this project. The RBI will regulate all payments received internationally and the CGA will be the key body responsible for maintaining all government accounts.

An industry official told the Hindu Business Line that: “The payment gateway would enable entrepreneurs to submit one integrated application for multiple licences and make a consolidated payment for the various licences that they require.”

He added: “The project would at least take a year’s time after designing. It will serve as a one-stop shop and eliminate the need to physically interface with various regulatory authorised at the Central, State and local government levels.”