Business Batieen event with BIA, Patna

Bihar government would reserve at least one fourth of land in its industrial parks for micro, small and medium enterprises (MSME). The state government would also give preferential treatment to women, specially abled and scheduled caste/tribe entrepreneurs.  

According to the officials from Industries Department, this would promote MSMEs in a big way. “MSMEs are the backbone of Indian economy. We understand its importance and we are doing our best to promote them in Bihar. We understand the land crunch that the entrepreneurs have to face while setting up their units. Therefore, the department has decided to reserve at least 25 per cent of land in our industrial parks for these enterprises. To promote entrepreneurship in women, specially-abled and scheduled castes/tribes youth, they would preferential treatment in land allotment process,” said Additional Secretary of Industries Department Pradeep Kumar while delivering keynote address at the Smart Business Event at the conference hall of the Bihar Industries Association.  

On the other hand, Reserve Bank of India (RBI) officials also told the entrepreneurs and industrialists present at the venue about the changed unveiled by the central bank for MSMEs in last few months. “Growth of this sector in one of the utmost priorities of the RBI and Government of India. Therefore, the MSME financing has been included in the priority sector lending. It means that the bank now have to set aside a certain sum for MSME financing every year under their annual credit plan. Apart from that the RBI has also allowed setting up of several Small Finance Banks in the country, which have to give at least three forth of their total loans to micro and small enterprises. It would help particularly the tiny and micro industries in fulfilling their working capital needs,” told RBI, Patna Assistant General Manager Neeraj Kumar.  

The BIA, meanwhile, put forward the demands of the trade and industries in the state. BIA chairman and noted industrialist of the state K P S Keshari urged the state government to ensure that all the departments, corporations and state government PSUs follow the purchase prefrence policy. “It would boost the MSMEs in the state to a great extent,” said Keshar. The event was jam packed and was attended by many noted industrialists, entrepreneurs and intellectuals in Patna.