New Delhi, Feb 1 (IANS): In a bid to promote entrepreneurship, the Centre has proposed to set up an investment clearance cell.

The proposal was made by Finance Minister Nirmala Sitharaman in the Union Budget 2020-21 which was presented to Parliament on Saturday.

"I propose to set up an Investment Clearance Cell that will provide "end to end" facilitation and support, including pre-investment advisory, information related to land banks and facilitate clearances at Centre and state level," she said in her Budget speech.

"It will work through a portal."

The proposal assumes significance as it is expected to generate more employment opportunities via promotion of entrepreneurship.

"Entrepreneurship has always been the strength of India. Even today, young men and women have given up greener pastures elsewhere to contribute to India's growth. They take risk and come up with disruptive solutions to challenges," the minister said.

"Equally, established old industries are resetting themselves in a changing global and domestic situation. We recognise the knowledge, skills and risk-taking capabilities of our youth. He is no longer the job seeker. He is creator of jobs. Now we wish to create more opportunities and remove road-blocks from his path."