It is presumed that the industrial development in Bihar is hampered by lack of investments. Is it because of 'unproductive' government policies or an unpredictable law and order situation?
And how to increase the flow of investment in the state? In order to find out answers to all such questions and debate these issues, Business Standard Hindi recently organised a roundtable in Patna.
The seminar was attended by various small and medium entrepreneurs from the state. Chief Minister Nitish Kumar, while participating in the seminar, reiterated his earlier demand that the state should be accorded the special category status. He said this would provide a much-needed boost to the industrial development of the state.
The chief minister also stated that most of the power plants and mines had landed up in Jharkhand after the bifurcation of Bihar in November 2000. Whereas Bihar still struggles every year with natural calamities such as floods and drought.
Nitish Kumar stressed that awarding the special category status to Bihar would result in benefits such as reduced excise and income-tax and this should attract industrial houses to set up their ventures in the state.
Special category states shell out only 10 per cent of the total funding for central-sponsored projects, whereas the remaining 90 per cent is made available through central government grants. An increase in the number of projects and industrial ventures will provide better employment opportunities and increase per capita income of the state.
The chief minister clarified that the procedural issues were not a deterrent as the state already had a single-window approval system managed by the State Investment Promotion Board (SIPB).
Image: Children at a flood relief camp in Araria district town in Bihar.
Photographs: Rupak De Chowdhuri/Reuters.
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