The Nitish Kumar cabinet in Bihar recently gave green signal to new industrial policy which has food processing and tourism as priority sectors among others. Approval to industrial promotion policy, 2016 was given at a meeting of state cabinet presided over by Chief Minister Kumar. Later, Principal Secretary Cabinet Coordination department told reporters that the new policy has small machine manufacturing, IT, textile, plastic and rubber industry, renewable energy, health care, leather and technical education in the priority sectors.
The policy promises rich incentives including reimbursement of stamp duty and land conversion fees. It would have provision for setting up private industrial parks. The cabinet cleared 19 proposals of different departments at today’s meeting.