The Chief Minister will head the committee and Chief Secretary will be its secretary. The state industries department will be its nodal department and provide it with the facilities of secretariat.

Informing about the decision taken at a meeting of the state cabinet, Cabinet Department Principal Secretary Brajesh Mehrotra said the committee will also review whether clearances and opinions from various departments concerned are being provided through the single window system.

"Apart from the 18 members, ministers of other departments can also be invited to participate in its meetings, if needed. The committee will review the rules and policies of different departments for providing impetus to industries in the state," Mehrotra told reporters.

The committee will also provide directions and suggestions to the state government for changing the policies, rules and business regulations to promote investment. It will also review necessary clearances on investment proposals under the single window system.

Of the 21 decisions taken at the cabinet meeting, the state government also approved a Rs 700 crore grant to Bihar Disaster Rehabilitation and Reconstruction Society for the FY 2014-15 for Kosi flood relief and rehabilitation project in Madhepura, Supaul, and Saharsa.

These districts were devastated during the 2008 Kosi disaster.
    
The government has also decided to provide sops to its retired employees in the form of free medical facilities at all government hospitals. The scheme will be implemented from November 1 this year and its cost will be borne by the Chief Minister Medical Assistance Fund.

Those who opt for the scheme will have to forgo Rs 200 medical allowance provided to them as part of pension every month. The rules of the scheme are being framed.

The Bihar government has also decided to provide Rs 4,000 every month to 8,398 village panchayats in the state for administrative expenditure and it will be spent on purchasing stationery, furniture and office related works. The decision will cost Rs 3.52 crore to the government.

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