Patna, Dec. 23: The cabinet today approved changes in the existing Industrial Incentive Policy of 2011 to promote investments.

It gave nod to Mid Term Review of Industrial Incentive Policy, 2011, to bring changes in the existing Industrial Incentive Policy.

According to changes in industrial policy, reimbursement of entry tax, along with VAT, will be given to new large sector industrial unit after the commencement of production. Maximum amount of reimbursement will be payable up to 300 per cent of capital investment.

'It is a good step. Whatever we had suggested have been almost accepted by the government. It will help attract investments,'Bihar Chamber of Commerce and Industries president P.K. Agrawal said.