look news india
A very wonderful and big good news has emerged for the youth and small entrepreneurs who want to start their own industry or business by investing less capital in Bihar. To change the picture of Micro, Small and Medium Industries (MSME) in the state, the Bihar government is preparing to bring a new and revolutionary ‘MSME Policy’. After the official implementation of this new policy, the financial problems faced by small industrial units with less capital will end forever. The government will not only provide financial assistance to these industries, but will also strengthen them technically, so that the products made in Bihar can be exported internationally. This big step will not only give wings to the local business but will also create new employment opportunities on a large scale in the state.
Small units dying due to lack of capital and technology will get new life.
According to current data, in Bihar about 8 lakhs Micro, small and medium industrial units are active. Apart from this, more than 9 thousand new small entrepreneurs are being created every year under the state government’s ambitious ‘Mukhyamantri Udyami Yojana’. Bihar is mainly full of units related to agro-based industries, food processing, textiles, handloom and dairy sectors. Although policies already existed for textiles, leather and food processing, there was no specific policy for promotion of other traditional and small units. This is the reason why small businessmen had to visit offices to get bank loans and government help. Due to lack of capital and modern technology, these units were unable to survive in the competitive market and their products did not meet the global export standards. The Industries Department is now working on a war footing on a new policy to overcome these basic problems.
It will be easy to get central assistance and bank loan on the lines of Delhi and Madhya Pradesh.
The main objective of Bihar Industries Department is to directly provide the benefits of huge incentives available under the MSME policy of the Central Government to the small entrepreneurs of Bihar. It is noteworthy that under the central policy, huge capital subsidy and loans are being given to micro industries at very concessional interest rates. Taking advantage of this scheme of the Centre, many other states including Delhi, Madhya Pradesh have prepared their own state level MSME policy, due to which the traders there get bank loans and central assistance in a jiffy. Now Bihar has also taken steps on the same path, so that the units here can be made financially self-reliant.
Under the new policy, these major sectors and units will get direct benefits
The scope of this new policy of Bihar government is going to be very wide, which mainly includes the following sectors:
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Food Processing Units: Under this, small units manufacturing flour mill, gram flour, sattu, spice mill and bakery products are included.
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Agriculture and Handicraft based products: Animal feed, poultry feed plants and local handicraft artists.
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Textiles and Handloom Sector: Readymade garments, clothing manufacturing industries and power loom related units.
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Other manufacturing and service sectors: Manufacturing of footwear, toys, wooden and iron furniture and all small units related to service sector.
These will be the most special and unique features of Bihar’s new MSME policy.
This new policy is going to prove to be a game changer for the industrial development of Bihar, the key features of which are as follows:
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Promotion of unorganized sector: People working in unorganized handloom and service sector will be directly linked to mainstream business.
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Access to Global Market: Special financial and infrastructural assistance will be given to make locally manufactured products suitable for the global market.
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Flow of loans and subsidies: With the coordination of central and state policies, entrepreneurs will get huge capital grants and easy bank loans at concessional rates.
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Relief in revenue and electricity charges: Huge rebate and relief will be given in energy (electricity bill) and other government revenue charges to run the factories.
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Features of Integrated Clusters: Small industrial units will be allotted space in integrated clusters to work together and share better resources, where infrastructure facilities will already be in place.
