With the start of the new year, the Bihar government has taken a significant step towards strengthening the state’s agricultural economy. The government has announced a comprehensive subsidy scheme to encourage investment in agriculture and related processing industries. This initiative aims to promote value addition at the local level and create new employment opportunities in the state.
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Which Agricultural Sectors Will Benefit?
Under the Bihar Agricultural Investment Promotion Policy, subsidies will be provided for the establishment or expansion of processing units related to makhana (fox nuts), honey, fruit and vegetable processing, maize-based industries, seed production, medicinal and aromatic plants, and tea. The government believes that these sectors have immense potential, which, if properly utilised, can strengthen the state’s rural economy.
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Who Can Apply?
Individual entrepreneurs, proprietorship firms, partnership firms, limited liability partnerships, and farmer-producer companies are eligible to apply under this scheme. This will provide an opportunity for small and medium-sized investors to set up industries, and farmers will directly benefit from it.
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Investment Limits and Loan Conditions
According to the policy, projects with a minimum investment of Rs. 25 lakh and a maximum of Rs. 5 crore will be eligible for this grant. However, to avail the capital grant, it will be mandatory to obtain at least 20 percent of the project cost as a term loan from a recognised bank or financial institution. This will ensure transparency in the investment process.
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Additional Incentives for Vulnerable Sections
Keeping social inclusion in mind, the government has also made provisions for additional grants for special categories. Investors belonging to the Scheduled Castes, the Scheduled Tribes, and the Extremely Backward Classes will receive an additional five percent capital subsidy. Women entrepreneurs, acid attack survivors, war widows, persons with disabilities, and transgender individuals will receive an additional two percent grant.
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Application Requirements
To avail the benefits of the scheme, the applicant must either own the project land or have a registered lease for at least 30 years. Self-attested documents related to the land and permission for land use change from the competent authority will also be required.
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Where to get information
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For detailed information about this scheme, eligibility criteria, and the application process, you can contact the official website or office of the Horticulture Directorate of the Department of Agriculture. The government hopes that this initiative will give a new impetus to agro-based industries in Bihar and increase the income of farmers as well as entrepreneurs.