Kovind addressed a gathering at Gandhi Maidan after taking salute from marching contingents and witnessing tableaux of different departments.
Chief Minister Nitish Kumar, Speaker of State Assembly Vijay Chaudhary, several ministers including Deputy Chief Minister Tejaswi Yadav and Education minister Ashok Choudhary were present on the occasion among others.
In his speech, the Governor said the "rule of law" prevailed in the state and a concrete arrangement is in place to rein in criminal activities without any prejudice.
He said the state has adopted a policy of zero tolerance on corruption and stringent action is being taken against the corrupt.
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Due to sustained efforts, the plan size has increased from Rs 4,000 crore to Rs 57,000 crore in the last 10 years, the Governor said.
Kovind quoted figures of Niti Ayog for 2014-15 which showed that Bihar registered 17.06 per cent growth rate to become the fastest growing state in the country.
The Bihar Governor highlighted ongoing developmental programmes in the field of agriculture, education and health among others.
Kovind also mentioned "seven resolves" of the Chief Minister to give a pace to faster growth of the state in next five year.
The seven resolves comprise a Rs 4 lakh loan credit card for students, a monthly allowance of Rs 1,000 for eight months twice in two years for students to help them search jobs, free Wi-Fi facilities in colleges and universities, among others.
Setting up a venture capital of Rs 5,000 crore for young entrepreneurs, toilets in all households, free drinking water connection to every household and free electricity connection to every household are also among the seven resolves.
Earlier, Chief Minister Nitish Kumar unfurled the national flag at his 7 Circular road residence.
RJD President Lalu Prasad unfurled national flag at 10 Circular road residence of his wife Rabri Devi.
Speaker Vijay Chaudhary unfurled the national tricolour at Assembly premises, while Chairperson Awdesh Narayan Singh did so in Legislative Council premises.
Reports of hoisting of national flag came in from different districts where ministers, legislators and officials presided over the Republic Day function.