Bihar’s Chief Minister, Nitish Kumar, has announced a new step to invite industries to the state and increase job opportunities.
The ‘special economic package,’ as per the CM, is meant to encourage industrialists and entrepreneurs to set up their industrial units in the state while generating more employment opportunities for the young people.
Under the new package, the capital subsidy, interest subsidy and GST relief will be doubled for the companies. Moreover, the government will, as per Kumar, set up industrial land in every district, providing land at no cost to businesses that create a significant number of jobs.
“To encourage the private sector to set up industries in Bihar, the government has decided to provide a special economic package. Under this, the incentive amount provided for capital subsidy, interest subsidy, and GST will be doubled,” the CM shared.
Kumar added that the Bihar government met its goal of giving 50 lakh youths government jobs and employment in 2020 under the Seven Resolves-2. He then announced the plan to provide 1 crore jobs to the youths in Bihar in the next five years.
“Now, our government has set a target to provide jobs and employment to 1 crore youngsters in the next 5 years,” Kumar declared. He added that all the promised benefits as per the new package will be made available in the next six months.
“Land will be provided in every district for setting up industries, and industries offering more employment will be given land free of cost. Disputes related to the land allocated for setting up industries will be resolved; All these facilities will be accessible to entrepreneurs setting up industries within the next 6 months,” said Kumar.
The CM stated that the new set of incentives and allotments is meant to help the industrialists in the state. He also claimed the desire to help the youth in Bihar become more self-reliant and safeguard their future.
