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Cabinet Gives Nod To New Startup Policy, 3 Big Hotels | Patna News

Patna: The state cabinet on Friday approved Bihar Startup Policy 2022 to provide an institutional framework for the strengthening and promotion of startup activities in the state.
It will be in operation for five years from the day of its gazette notification. The startup activities already going on under the 2017 policy will also be covered in the new one.
The cabinet sanctioned the proposal to establish three big hotels with around 1,100 rooms on the concept of five-star hotels at Patna. While the Patliputra Ashok will have 175 rooms, the one to come up on the Bankipore Bus Stand premises will have 500 rooms and that on the Sultan Palace land with 400 rooms.
Cabinet secretariat department principal secretary S Siddharth said the old startup policy had a provision for the screening committee comprising experts and consultants from outside the state, as a result of which holding its meetings got delayed. Under the new policy, the screening committee will be headed by the industries department director.
Besides, the new policy has provision for state startup fund trust to be chaired by development commissioner, while the monitoring and implementation committee will be headed by the industries department principal secretary.
The screening committee will do the initial scrutiny of the proposals while the implementation will be done by the directorate, to be assisted by the startup support unit. The filing of the applications and their processing will be done online. While the third party will rate the startups for their certification and payment of the seed fund/matching grant to them. Startups set up by scheduled caste and scheduled tribe persons, as well as women and divyangs will get additional grant/exemption/subsidy.
The proposal of the animal husbandry and fishery resources department was also cleared regarding increase in the stipend for students concerning various courses conducted by Animal Science University, Patna. Stipend for the two-year course of MB Science has been increased from Rs 2,000 to Rs 7,650 per month, and for the three-year course from Rs 3,000 to Rs 12,000 per month.


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