Patna, May 16: The state will have a new industry policy within a month.

Industries department principal secretary C.K. Mishra today said the final draft of the industrial policy, 2011, was ready. It would be tabled before the cabinet shortly.

During a meeting with the members of Bihar Chamber of Commerce (BCC), Mishra said: “The final draft of the industrial policy has been prepared. It will be presented before the cabinet soon for approval. The new policy will be declared within the next three-four weeks.”

The industrial policy, 2006, had expired in March this year. The state government had extended it till December 2011, promising that the policy for the next five years would be announced before that.

Mishra said: “Our industry policy for the past five years was one of the best in the country but we could not successfully implement all its provisions because of lack of manpower and methodology. However, we are making concerted efforts to provide better facilities and environment to industrialists.”

He announced that the department would soon develop a website for Bihar Industrial Association Development Authority where incentives for industrialists and the status of their complaints or feedback would be posted. He also said the state government would soon create a land bank corpus of Rs 15,000 crore in the state.

The members of BCC demanded a slash in the minimum monthly guarantee on electricity. They also suggested that Bihar State Electricity Board (BSEB) should buy electricity from National Thermal Power Corporation through open access scheme. Mishra said BSEB had been given a guideline by his department to come up with industry-friendly provisions in the wake of growing discontentment among entrepreneurs in the state.

The other demands of BCC members included separate industrial policy to promote tea industry in the state, creation of land bank for industries and reduction of stamp duty on registration by banks in case of industrial loans.