Patna: With an aim to broad base contours of economic development in Bihar, the state government has launched multi-pronged strategies both in terms of policy and incentives to boost industrial development, Industries minister Renu Kushwaha said on Friday. (Agencies)
"We have framed an industrial policy to provide various incentives to enterpreneurs and formed an advisory council comprising top honchos of the industries to prop up industrial development," Kushwaha said while replying to the debate on the industries department budget of Rs 528 crore for 2013-14.
The state government has provided 35 per cent subsidy in the cost of construction of industrial units related to food processing and agriculture, while there was a provision for 100 percent waiver in registration of land meant for sites of industrial units, she said.
In the backdrop of shortage of electricity, it has been decided to provide 50 percent subsidy for constructing captive power plants by investors, the minister said. She said that Chief Minister Nitish Kumar was meeting enterpreneurs and investors on the fifth Monday of each month while industries department officials were holding court for investors to address their problems.
The initiatives for ushering in industrial development has started showing results with 90 units having come up with private investment of Rs 5028 crore, while approval has been granted to another 251 projects worth Rs 13,000 crore by 2012, she said.
In addition, two mega food parks have been sanctioned by the central government at Bhagalpur and Khagaria where work would start soon, she said.
The state government proposed to revive handicraft and silk industries and a number of incentives have been envisaged to provide funds and raw materials to those engaged in it, Kushwaha said. However, the pace of industrial development could have been more rapid had banks provided liberal loans to enterpreneurs and the Centre granted special category status to Bihar, she said.
Patna: With an aim to broad base contours of economic development in Bihar, the state government has launched multi-pronged strategies both in terms of policy and incentives to boost industrial development, Industries minister Renu Kushwaha said on Friday.