Patna: A cabinet meeting chaired by chief minister Nitish Kumar on Monday amended the Bihar Industrial Investment Promotion Policy, 2016, by raising investment limits that can be approved by authorities at different levels.

Investment proposals the development commissioner can approve has been raised from Rs 2.5 crore to Rs 5 crore. Similarly, it has been upped from Rs 10 crore to Rs 15 crore for projects the industries minister can approve.

Approvals for investment proposals from Rs 15 crore to Rs 30 crore will be jointly decided by the industries minister and the finance minister, up from Rs 15 crore. "Decision on investment proposals of Rs 30 crore and above will be taken by the state cabinet," said industries department principal secretary S. Siddharth.

All proposals will have to be disposed of in 15 days.

The cabinet approved the law department's proposal to buy 40 new vehicles - diesel variants of Toyota Innova Crysta 2.4 ZX - for Rs 9.09 crore for use by justices of Patna High Court.

The cabinet also hiked diesel subsidy to farmers for irrigation, and amended classification of land into categories to solve problems faced in land acquisition.