Patna, July 20: To further accelerate the pace of industrialization of Bihar, a historic decision has been taken in the cabinet meeting chaired by Chief Minister Nitish Kumar on Tuesday. Land lease rates in 54 industrial areas of the state have been reduced from 80 per cent to 20 per cent. Due to this, setting up industries in the 54 industrial areas of Bihar Industrial Area Development Authority (BIADA) has become much cheaper now.
Bihar Industries Minister Syed Shahnawaz Hussain thanked Chief Minister Nitish Kumar for this historic decision and said that it is a big decision in the direction of promoting industrialisation of the state. He said that land rates in many industrial areas of BIAD A have been rationalised so that setting up of industries in the state becomes cheaper and easier.
Bihar Industries Minister Shahnawaz Hussain
The price of land has been rationalised in 54 industrial areas of BIADA and industrialisation will be accelerated due to cheap land, says Syed Shahnawaz Hussain
Hussain said that out of 54 industrial areas where land rates have been reduced in BIADA, 15 are industrial areas where land lease rates for industry have been reduced by 80 per cent. There are 12 industrial areas of BIADA where land prices have been reduced by 60 per cent. In another 12 industrial areas, the lease rate of industrial land has been reduced by 40 per cent, while in 15 industrial areas the land value has been reduced by 20 per cent.
He further said that at present there is a wonderful environment for industry in Bihar and investors from all over the country are coming forward to set up industries in Bihar. He said that the need was felt to rationalise the land price for the industry, which has finally been approved with the blessings of Chief Minister Nitish Kumar. It has been approved in the cabinet meeting.
Hussain said that very recently, Bihar Textile and Leather Policy 2022 have been launched. After this, the historic decision of Bihar Industrial Area Development Authority (BIDA) to reduce land rates from 80 per cent to 20 per cent in 54 industrial areas out of total 74 industrial areas will be a big help in achieving the goal of taking the state ahead in the industrial sector.
The Bihar Industries Minister said that we have no shortage of land for industry. After the transfer of 2900 acres of land of closed sugar mills to BIADA by the state government, a huge land bank is available for setting up industries in the state. After today’s decision of the cabinet, the industrial land in the state has become very cheap now. Hussain appealed to the investors from all over the country to come to Bihar and invest.
