Bihar Industrial Incentive Policy has been launched by Bihar Government to attract domestic and foreign investment as well as revival and expansion of business operations of the existing industrial units by providing the right industrial ambiance.
- To promote balanced industrial development and enable industries to contribute towards the social and economic development of the State.
- Creation of marketing potential for sales of the products of Small, Micro, Rural units, Handicrafts, Handloom, Khadi, Sericulture etc in order to ensure their development.
- Simplification and transparency in all kinds of allotments, grants and entrepreneurs related procedures and provision of online services as much as possible.
- Any unit, new or existing, will be able to avail incentives under the Industrial Incentive Policy-2011.
- Unit should not be availing such incentives under any other Government Policy.
- 100% exemption from Stamp Duty/Registration Fees to new units being levied on Lease/ Sale / Transfer of Industrial Land/Shed.
- Reimbursement of 50% of the cost, subject to a maximum of Rs. 2 Lakhs, incurred in the project report preparation by the industrial units will be made.
- Reimbursement of 50% of the land/shed cost, with the ceiling of Rs. 15 Lakhs will be provided to Micro/Small Units.
- Reimbursement of 25% of the land/shed cost, with the ceiling of Rs. 30 Lakhs will be provided to Large/Medium/Mega Units.
- 50% of the amount spent on plant and machinery in the establishment of Captive Power Generation/Diesel Generating set will be reimbursed to the industry.
- New MSME industrial units will be granted 20% capital subsidy on the amount spent on plant and machinery subject to a maximum of Rs. 75 Lakhs.
- New large industrial units will be granted 20% capital subsidy on the amount spent on plant and machinery subject to a maximum of Rs. 500 Lakhs.
- Assistance @ 75% of expenditure incurred in obtaining certificate of I.S.O. standard (or equivalent) from reputed national/international level organizations.
- All new units will be entitled to avail 80% reimbursement against the admitted VAT amount deposited in the account of the Government, for a period of ten years.
- 100% exemption in luxury tax for seven years to new industrial units.
- 100% reimbursement of electricity duty for seven years to new industrial units.
- 100% exemption in land conversion charge to new industrial units.
- Entrepreneurs of SC/ST/Women/Handicapped categories will avail 5% additional grant/exemption/subsidy than the limit fixed under this policy.
For More Information: Click Here
Drop your feedback and suggestions in the comment box.