Get latest articles and stories on India at LatestLY. In a significant step towards strengthening the industrial environment in the state, the Bihar Industrial Area Development Authority (BIADA) distributed cheques to 28 “beneficiaries” here on Tuesday under the state’s Exit Policy, 2023.
Agency News PTI| Mar 11, 2025 11:10 PM IST
Patna, Mar 11 (PTI) In a significant step towards strengthening the industrial environment in the state, the Bihar Industrial Area Development Authority (BIADA) distributed cheques to 28 “beneficiaries” here on Tuesday under the state’s Exit Policy, 2023.
The policy was framed to reclaim industrial plots from non-functional units for new ventures.
Under the policy, BIADA pays back the money to the investors, which they had given to the authority for acquiring plots to set up industrial units. The returned plots would now be allotted to new investors.
On Tuesday, the cheques were distributed to 28 beneficiaries by Bihar Industries Minister Nitish Mishra at a function held in the state capital.
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“The BIADA has made a significant contribution to the development of Bihar,” the minister said.
The Managing Director of BIADA, Kundan Kumar, said, “We distributed cheques to 28 beneficiaries under the Exit Policy 2023.”
“Under the Exit Policy 2023, a total of 32 beneficiaries have returned land of closed units to BIADA, of which four had already received payment through cheques in 2023,” he said.
The remaining 28 beneficiaries received their cheques from the industry minister on Tuesday.
The minister also said that to develop an Integrated Manufacturing Cluster (IMC) in Bihar, the state government has identified around 1,670 acres of land in Dobhi Block of the Sherghati Sub-division in Gaya district.
“The proposed IMC Gaya project site spans 13 revenue villages (Mauja). The land acquisition process for the project is underway,” the industries minister said.
The site is located near NH 22 (Dobhi-Chhatra Road), which connects Gaya with the Chatra district in Jharkhand.
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