Patna: Bihar Government is on its track to offer lucrative incentives to the Information Technology (IT) Companies willing to invest in Bihar. The State has already drafted an array of incentives and the announcement is likely to be made after the General Elections end in mid-May.
Among  benefits of the new Policy,  the State Government would offer a 50% capital subsidy to IT Companies with a maximum cap of Rs. 3 crore, reports Business Standard.
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It would also reimburse a percentage of central cess and sales tax. The State has already announced  reimbursement of VAT and entry tax for IT sector for 10 years. The Government would also offer land with  subsidised rates for setting up of Offices and Development Centers of IT Companies
Since the state has been sluggish with regard to Power supply, it is planning to boost the investor’s mindset by providing subsidized electricity to IT Sector for next 3 years. As per reports, upto 25% Subsidy might be mulled on Power Bill of IT Companies investing in Bihar.
Apart from all these, the state has announced a number of self-initiatives to boost the IT Sector. It is developing 3 IT Parks in Patna with over 1.6 Million Sq. Ft office space. It is also developing an IT City in Nalanda spread over 200 acres and in the vicinity of Nalanda University. The IT Park at Patna is expected to be operational by this year itself.
Also Read: Bihar’s first IT City to come up at Nalanda : Nitish Kumar
The State already has  developed almost 60,000 sq ft of ready-to-occupy space for IT Sector.