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Regular-article-logo Tuesday, 06 May 2025

Reality check on investment

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JOY SENGUPTA Published 16.07.13, 12:00 AM

The industries department is preparing a report in respect of districts to ascertain the status of the State Investment Promotion Board-approved projects.

The move, industry experts believe, was initiated to identify “real” investments trickling into the state.

Investments that have been approved by the SIPB in 10 districts — Aurangabad, Banka, Khagaria, Lakhisarai, Madhepura, Muzaffarpur, Nalanda, Rohtas, Samastipur and Saran — are being scrutinised. The plan is to extend the scrutiny to all 38 districts.

“Since early this year, the department is engaged in finding out real investments that have been made in Bihar. Since 2006, the SIPB has approved 1,207 proposals across the state. Among these, quite a few have been approved. However, there are proposals, which have not been executed despite them getting approvals three years back,” an officer with the state industries department told The Telegraph on Monday.

The officer added that the department has been trying to identify and contact company officials and the process to cancel the proposals has been initiated. “The department is going micro. The approved projects in each district are being studied. The companies are being contacted and the updates about their interest to set up business is being noted down,” he said.

The officer used case studies of two districts to explain what the initial scrutiny suggests. “Of the 18 units approved for Banka, the fact-finding team has gathered information on four. The department would trace the addresses and contacts of the four companies. Of the four units, approved for Khagaria, none of them has started production. The investment scenario is not looking up as of now,” the officer said.

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