The Bihar government is promoting industrial development by offering 10 acres of land for just ₹1 to investors who invest ₹100 crores, aiming to stop the exodus of laborers from the state.
In an effort to curb the out-migration of laborers from Bihar, the state government is encouraging industrial investment by proposing an enticing offer: any entrepreneur who invests ₹100 crores will receive 10 acres of land for just ₹1. This initiative mirrors the successful 'Gujarat model' of industrialization, and is designed to create job opportunities while promoting small-scale industries. Additionally, the government is providing training and financial assistance to individuals interested in starting cottage industries, further aiming to improve the economic conditions in the state.
Arvind Kumar Nirala, Vice-Chairman of the Bihar State Entrepreneurial and Business Commission, expressed confidence in the future, suggesting that this push for industrialization will significantly reduce the outmigration of laborers from Bihar. He recounts how Bihar was once regarded as a 'backward' state plagued by crime and disorder prior to 2005 but asserts that under Chief Minister Nitish Kumar’s leadership, the state has transformed into a place brimming with development opportunities. Nirala emphasizes that this new vision for Bihar is attracting investors both from other Indian states and foreign nations.
The initiative is marked by a development narrative that positions Bihar in positive contrast to its historical struggles. By channeling investments and fostering a conducive environment for industries, the state aims to improve its socio-economic fabric and ensure sustainable growth. As Bihar strives to shift its image, the government's plans hold the potential to create a robust industrial base and retain more of its workforce within the state, making it a pivotal moment in Bihar's ongoing journey towards economic revitalization.
