Bihar gets over Rs 9000 investment proposals: minister

Bihar has received more than 700 investment proposals, worth over Rs 9,000 crore, in past 15 months thanks to measures that have created an atmosphere conducive for industrial growth, the state legislative council was informed today.

Industry minister Jai Kumar Singh highlighted sustained efforts made by the state government under Industrial Investment Promotion Policy, 2016 to draw investment in the state.

"Since January, 2017, 759 proposals of investment, worth Rs 9118 crore have been received. Out of these, 649 proposals have been given stage 1 clearancee",the minister said while replying to a starred query by BJP MLC Rajesh Kumar regarding the industrial investment climate in Bihar.

As per the Bihar Industrial Investment Promotion Act, 2016, Stage 1 clearances refer to examining the feasibility of a project the State Investment Promotion Board and providing necessary approval to the investor.

The minister also said "financial incentive clearances have been given to 84 out of 123 proposals received and work has started on 30 such industrial units".

"The state government has been making sustained efforts to attract investments in Bihar...... under the industrial investment promotion policy of 2016, facilities like common application form and self attestation system have been introduced", the minister said.

"Single window clearance system has also been made more effective as a time-limit of 30 days has been fixed for giving clearances with a provision of deemed clearance upon the expiry of the period", he said.

"Moreover, a start-up policy was also framed last year. In addition, investment meets are organized besides holding of road shows, fairs, exhibitions and seminars where the state's industrial policy is publicized", he added.

"All these initiatives have succeeded in attracting greater investments which is bound to have a favourable impact on the state's growth rate", the minister said.