look news india
The state government has taken a very revolutionary and historic step towards freeing Bihar from the sting of backwardness and migration and creating a new industrial hub. From a diplomatic and economic point of view, the Bihar government has completely opened the doors of the state by making a major change in its policies to attract big industrialists and investors from the country and the world. The government led by the Chief Minister and Deputy Chief Minister has announced a mega industrial vision to bring huge investment in the state, set up new factories and create lakhs of employment opportunities at the local level. After this big decision of the government, there is an atmosphere of great enthusiasm in the corporate world and business organizations and it has become clear that now the preparations have been completed to make Bihar one of the leading states of the country in terms of industry.
Elimination of red tape and implementation of single window clearance system.
The biggest and special thing about this new industrial announcement of the Samrat government is that now investors will not have to visit government offices to set up their units in Bihar nor will they have to face the hassle of files. The government has announced the implementation of a highly modern and transparent Single Window Clearance System to promote ‘Ease of Doing Business’. Under this, all the necessary no objection certificates like land allotment, electricity connection and NOC of the Environment Department will be available online within a certain time limit. A special team of the Chief Minister’s Office will directly monitor this entire process so that there is no scope for corruption or negligence at any level.
Investors will get huge subsidy, tax exemption and guarantee of cheap land.
To attract industrialists to Bihar, the Government has completely opened its treasury. According to the new package of the government, investors setting up plants in Bihar will be given huge subsidy on capital investment. Along with this, huge financial incentives like huge rebate in State GST (SGST), concession in electricity rates and complete waiver of stamp duty have been announced for the first few years. The government has created a huge land bank in different parts of the state, where industrial land equipped with basic facilities will be immediately made available to investors on lease and at very affordable rates, so that they can start work on their projects without any delay.
Government’s special focus on textile, food processing and IT sectors
The main focus of Bihar government is on those sectors where the state has abundance of raw materials and unlimited employment potential. Under this new masterplan, special priority is being given to textile and garments (cloth industry), food processing (food processing) industries like maize, makhana and litchi based industries, and IT (Information Technology) and electronics manufacturing sectors. There is no dearth of skilled and hardworking workers in Bihar, who till now used to go to other states and provide their services. Through this policy, the government aims to ensure that big companies of the country set up their manufacturing units in Bihar, so that the dream of ‘Make in Bihar’ can come true and the youth can get respectable employment near their homes.
Rejuvenation of infrastructure is taking place, strong assurance given regarding law and order
Investment comes to any state only when its infrastructure and law and order are strong. While assuring the investors, the Samrat government has made it clear that there is rule of law in Bihar and a policy of zero tolerance is being adopted against criminals and extortionist elements. Along with this, connectivity is being improved by the network of expressways, four-lane roads and construction of new logistics parks, so that industries will not face any problem in transportation of goods. This historic announcement and the strong determination of the government has made it clear that Bihar has now left behind the image of a sick state and is fast moving on the path of becoming a new economic power.