The Maharashtra cabinet on Monday decided to relax rules for promoting investment in the state. It gave investors virtually one ticket for industrial licence. Accordingly, those who have availed permission from the MIDC (Maharashtra Industrial Development Corporation) would not be required to avail any permission from municipal corporations or municipal councils or local bodies.

The cabinet gave its nod for making amendments in the BPMC Act 1988 section 390 (1) and Section 393 (18) as well as subsequent sections in the municipal council and other local bodies so that there would not be any requirement for availing permission from local bodies once MIDC has given permissions.

The state government has reduced the number of permissions for starting any new business in the state under the initiative of ease of doing business. It has brought down the number of permissions from 75 to 35 and has set a target of bringing it down to 25.

Meanwhile, the Maharashtra government has decided to abolish the Local Body Tax (LBT) within 15 days on petrol and diesel to end the disparity between fuel dealers and other traders.

Maharashtra finance minister Sudhir Mungantiwar said that the decision came after discussions were held between the state government and petrol/diesel pump owners over its imposition.

He, however, said that the government will impose an alternate tax in place of LBT. The Minister claimed that the fuel dealers are ready to accept the imposition of an alternate tax in lieu of LBT.

All they want is parity between all pump owners. He said that abolishing LBT will cost the government exchequer Rs 280 crore.