Bihar to give incentives to industrialists: Modi
Posted: 21 Jan 2011 09:34 PM PST
PATNA: Bihar Government on Friday promised various incentives to industrialists and traders to boost development of the state during the second term of the NDA rule.
Stating this, Deputy Chief Minister, Sushil Kumar Modi did not elaborate on the proposed incentives to reporters at the sidelines of a pre-Budget interaction with the members of industrialists and traders fraternity.
He said that the state government would also formulate new industrial and information technology policies to give a thrust to the industrial development of the state.
Modi said that a number of corporate houses as well as NRIs of Bihari origin had evinced keen interest in setting up industrial units in the state in view of the improved law and order situation.
“There have already been investments worth thousands of crores of rupees in Bihar in the industrial sector in the past five years,” Modi said, adding that the state government was more than willing to meet various expectations of investors to encourage them to come over and set up their industrial units in the state.
Meanwhile, the representatives of various industrial bodies raised a number of demands, including streamlining taxation and reduction in VAT during their interaction with Modi and the Industries Minister Renu Kumari.
Bihar unit of CII President Satyajit Singh alleged that the state government had diverted a Rs 1000-crore special package for compensation to the losses incurred by the industries for bifurcation of the state in 2000.
Source:The Economic Times
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