THiruvananthapuram, Kerala has secured favorable reception from the unification Finance Ministry for special assistance of ₹360 crore below the Compliance reducing and deregulating component of the SASCI scheme.SASCI refers to the Special Assistance to States for Capital Investment, the Kerala State Industrial Development Corporation said in a statement issued on Wednesday.The approval reflects the Centre's acknowledgement of Kerala's systematic approach to reducing regulatory burdens and strengthening the state's investment ecosystem through structured compliance reforms. The amount will be released in a single instalment, according to an official statement issued on Wednesday.KSIDC, the nodal agency, has been coordinating the state-level implementation of the Compliance Reduction and Deregulation programme for the past nine months.This marks a major reform initiative aimed at simplifying procedures and enabling enterprises-particularly MSMEs-to utilise resources such as land, labour, plant and machinery, and infrastructure without being constrained by complex regulatory processes.The reform process in the state has been steered under the leadership of the chief secretary, with a focus on enabling enterprise growth, enhancing regulatory efficiency, and strengthening Kerala's overall economic competitiveness, the statement said.For Kerala, Manoj Govil, Secretary , Cabinet Secretariat, Government of India, served as the task force member responsible for advancing the programme.A P M Mohammed Hanish, Additional Chief Secretary , played a key role in implementing the reforms through periodic assessment and review of progress made by various departments in coordination with the Cabinet Secretariat, it said.The special assistance will support 13 capital investment projects being implemented by key state agencies, including the Kerala Road Fund Board , Kerala Water Authority , Roads and Bridges Development Corporation of Kerala , and Kochi Metro Rail Limited .These projects are expected to further strengthen the state's infrastructure and investment readiness.The sanction acknowledges the progress made by Kerala in undertaking regulatory reforms, including relaxations in building rules, streamlining of master plan protocols, the establishment of industrial land banks, and simplified building and occupancy approval processes.These measures have collectively contributed to improving the state's regulatory environment for businesses and investors, the statement added.The Compliance Reduction and Deregulation programme focuses on five priority areas-land, labour, building and construction, utilities, and permissions.These areas are further structured into 23 sub-areas spanning 11 departments, with the objective of rationalising regulations, eliminating redundant procedures, and ensuring faster and more transparent approvals for enterprises.The systematic simplification of regulatory frameworks helps reduce compliance costs, promotes innovation, improves operational efficiency, and creates a more enabling environment for MSMEs and emerging industries, it said.The programme has strengthened Kerala's attractiveness as an investment destination by providing greater regulatory clarity and predictability, KSIDC added in the statement.This article was generated from an automated news agency feed without modifications to text.
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