Published: 27th Jul, 2020
Context
The civil aviation ministry has set up a single-window clearance mechanism to expedite various investment proposals in the domestic aviation industry.
About
- Ministry of Civil Aviation (MoCA) has set up an Investment Clearance Cell (ICC) for prompt assistance and clearance.
- Earlier the setting up of the ICC was announced by in 2020-2021 Union Budget in February this year.
- The ICC is a 10-member body headed by Amber Dubey, Joint Secretary in the Aviation Ministry.
- Of the rest nine members on board:
- Five are from the aviation ministry, each from the Airports Authority of India and its cargo and logistics business subsidiary AIACLS, one from the Directorate General of Civil Aviation, one to be co-opted by the chairman as per the requirements.
- Functions:
- The ICC has been mandated to serve as a single-window system for attracting investment and its terms of reference include accelerating investments, bringing projects to the Empowered Group of Secretaries (EGoS) which require special incentive, policy interventions, etc.
- It will also identify projects and report to EGoS and maintain active contacts with investors and work with the states, duly adopting ways of on-boarding the states to make them a part of the institutional set-up.
- It will identify policy and regulatory issues that come in the way of investments and engage with potential investors to bring the proposal for consideration of EGoS.
- Need for ICC
- The Indian aviation sector is hit severely by the coronavirus pandemic and economic downturn.
- Rating agency Icra expects India's GDP to contract by 9.5 percent this fiscal on account of the localised lockdowns put in place by various state governments and rising cases of coronavirus infection.
- Of the rest nine members on board:
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