Bihar Govt proposes new Policy for Private Industrial Parks

Bihar Government is finalising a draft policy that would facilitate setting up of Private Industrial parks in the state,  in a bid to attract Investors. The Policy is expected to be unveiled during an upcoming Entrepreneur’s Summit to be held on April 29.

The Summit, known as Udyami Panchayat would be held at the Touristic City of Rajgir and would be inaugurated by Bihar CM  Nitish Kumar.

So far, Bihar has miserably failed to attract Institutional Investors in the state and apart from small and medium units of food and beverages, it has not seen any major growth in Industrial Sector.

In the new policy, the Government tries to overcome the factors, which has deterred Investors from the State. The perks in the new Policy for Private Industrial Parks are expected to be:

  1. Subsidies ranging from 30 -40 %
  2. Waiver in Taxes and Stamp Duties
  3. Assistance in Developing Basic Infrastructure
  4. Continuous Power Supply
  5. State Sponsored Security in the Industrial Parks

The State Government is however unlikely to provide Land for setting up of the Park due to unavailability of Industrial Land in the State and high population density. Investors would themselves have to acquire the land. The State Industrial Department would however facilitate easy conversion of those areas to Industrial Land.