Nodal officers to streamline execution of MoUs price ₹1.80 lakh crore in Bihar

Bihar Chief Secretary Amrit Lal Meena. File photograph
| Picture Credit score: The Hindu

Buoyed by the success of the latest international traders’ summit, ‘Bihar Enterprise Join-2024’, which noticed the State obtain funding proposals price ₹1.80 lakh crore, the State authorities on Sunday (December 22, 2024) stated it’s going to now guarantee “conversion of memorandums of understanding (MoUs) into funding on the bottom inside a 12 months”.

In an announcement, Chief Secretary Amrit Lal Meena stated “one nodal officer for each 5 to 10 MoUs” shall be nominated by the federal government to result in ease of doing enterprise.

These nodal officers will cowl all 11 sectors for which proposals have come forth and can assist the traders in “securing land and all different clearances”, he stated. “Progress shall be reviewed periodically by the State Funding Promotion Board,” the Chief Secretary stated.

Adani Group, Solar Petrochemicals, and a number of different corporations dedicated to take a position a document Rs. 1.80 lakh crore in Bihar — throughout sectors starting from renewable power to cement, meals processing, and manufacturing — through the two-day international traders’ summit, which concluded on December 20 within the State capital. In all, the State authorities signed funding commitments with 423 corporations.

Within the first version of the investor meet in 2023, Bihar had acquired an funding dedication of Rs. 50,300 crore.

“The Industries Division already has a mechanism in place the place now we have appointed sector-specific nodal officers to make sure conversion of MoUs into funding on the bottom. They’re on a 24×7 job to assist traders safe all clearances,” Bandana Preyashi, Secretary (Industries Division), stated.

“The time for Bihar has come,” stated State Industries and Tourism Minister Nitish Mishra and added that the main focus will now shift in direction of offering all of the promised help to the traders in order that the models may begin rapidly.

‘Change in notion’

“Any more it will likely be the emergence of a brand new Bihar… I feel the parable or the notion that individuals had about Bihar (of the State being much less investor-friendly) has gone. Now, it’s a full emergence of a brand new Bihar beneath the management of Nitish Kumar ji. I’m constructive that in years to return when these MoUs are transformed into tasks, they may have an enormous impact, large impression,” he stated.