Bihar Industrial Policy 2016
The Bihar Industrial Investment Promotion Policy, 2016, was launched by the Government of Bihar to transform the state into a more attractive investment destination.
Here’s a breakdown of its key points –
Vision & Mission
- Establish Bihar as a leading destination for investment.
- Maximize employment generation and achieve balanced regional development
Strategies
- Develop strong support infrastructure.
- Prioritize key sectors with a focus on advanced technology and skill development.
- Offer a structured package of financial assistance to industries.
- Promote balanced development by extending benefits across all areas of the state.
- Uplift socially disadvantaged groups and women entrepreneurs with special incentives.
Target Sectors
The policy focuses on industries that can:
- Add significant value to Bihar’s natural resources.
- Generate revenue and create employment opportunities.
Here are some of the priority sectors:
- Food Processing
- Tourism
- Small Machine Manufacturing
- IT & ITeS (Information Technology & Information Technology Enabled Services)
- Electrical & Electronic Hardware Manufacturing
- Textiles
- Plastics & Rubber
- Renewable Energy
- Leather Sector
- Technical Education
Incentives Offered
The policy offers a range of incentives to attract investors, including:
- Land Allotment & Fee Waivers: Concessions on land conversion fees, stamp duty, and registration fees for setting up units in designated industrial areas.
- Capital Investment Subsidy: Partial reimbursement of capital investment for certain sectors and project sizes.
- Interest Subsidy: Subsidy on term loan interest for new units.
- Power Tariff Subsidy: Concession on electricity tariffs for some industries.
- Skill Development Subsidy: Reimbursement of employer contributions to social security schemes for employees from Bihar.
- Other Incentives: Tax breaks, market access support, and help with regulatory clearances.
High Priority Sectors
The policy identifies a sub-category of “High Priority Sectors” that receive additional benefits, such as even higher capital investment subsidies and longer durations for availing certain incentives.
These sectors include:
- Information Technology (IT) & ITeS
- Electronic System Design & Manufacturing (ESDM)
- Food Processing
- Textiles & Leather
For a complete picture of the policy and the latest updates, you can refer to the official documents:
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