Nitish announces 'special economic packages' for investors to promote investments in Bihar

Patna: In a bid to promote investments in Bihar, Chief Minister Nitish Kumar on Saturday announced several "special economic packages" for the investors. The CM announced the government's decision in a social media post.

In a post on X, he wrote, "Our government has set a target to provide jobs and employment to one crore youths in the next five years. The government is encouraging those setting up industries and pursuing self-employment in the state by providing various facilities." "Now, entrepreneurs setting up industries in Bihar will be given a special economic package. To encourage private sectors to set up industries in Bihar, the government has decided to provide a special economic package," he added. All these facilities will be provided to entrepreneurs for setting up industries within the next six months. In addition, several other provisions have been made to significantly assist entrepreneurs setting up industries in the state. A detailed notification in this regard will be issued separately, the CM said. "The special economic packages for the investors/entrepreneurs include: The incentive amount provided for capital subsidy, interest subsidy, and GST will be doubled. Land will be arranged in all districts for setting up industries, and industries providing more employment will be given land free of cost. Disputes related to the land allocated for setting up industries will be resolved on a priority basis," Kumar added. "In 2020, under the Seven Resolves-2 initiative, our government fulfilled the target of providing government jobs and employment to 50 lakh youths. Now, our government has set a target to provide jobs and employment to 1 crore youths in the next 5 years. The objective of this initiative by the state government is to promote industries in Bihar, ensure that the youth of Bihar become skilled and self-reliant, have access to maximum employment opportunities, and secure their future," the CM said.