In yet another drive to gear up on industrialisation and investors flooding Bihar with bulk investment proposals, Chief Minister Nitish Kumar on Saturday rolled out a set of” special economic packages” to the investors and business enterprises. The CM announced it in a post on a social media platform with a strong emphasis on the need for the state government to enhance the industries and the employment prospects in the coming months.
These incentives, according to the Chief Minister, will be provided in the next six months, and the main aim and focus will be to offer as much support to the entrepreneurs willing to commence their industries within the state. The government will shortly issue a detailed notification to provide information on the provisions.
Outlining the main features of the new economic packages, Kumar stated that the capital subsidy, interest subsidy, and GST benefits will now be increased by twice the amount. In a further bid to simplify the process of establishing the industries, the government has resolved to give out the land in every district. On top of this, it will provide free land to those industries that are associated with greater employment. Among the priorities set by the state is to address all the land-related issues surrounding industrial projects with the aim of ensuring that entrepreneurs are not unduly frustrated.
This announcement was also related by the Chief Minister to the overall vision of Bihar in terms of employment. He remembered how, under its “Seven Resolves-2” scheme implemented in 2020, the government had been able to generate jobs and opportunities for 50 lakh younger people. As a follow-up to that effort, the government has currently set a grand target of offering employment to one crore youths within the next five years.
As stressed by Nitish Kumar, it is not only aiming at luring industries to invest in Bihar; the packages are also meant to empower the state’s youth. With the potential to develop skills, self-management, and provide employment opportunities, the initiative is made in the hope of securing a rosy future for the Bihar population and help the state go into rapid industrialization.
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