The natural resources and policy incentives support the agro-based sector. Agro-based industry and petroleum products (primarily Barauni oil refinery) account for around 85 per cent of the total industrial output in the state.
In 2012, the SIPB approved 12 large-scale units. Britannia Industries, Ramco Industries and Hindustan Petroleum are some of the promoters whose units were granted approval. During 2012-13, four additional large-scale units were approved by SIPB.
Major initiatives taken by the government to promote Bihar as an investment destination are:
- The Government of Bihar has approved 229 food processing projects.
- Under the JNNURM, eight projects costing US$ 155 million have been sanctioned for urban centres such as Patna and Bodh Gaya. The key areas of development are solid-waste management system, water supply and sewage.
- According to State Plan - Road Construction Department, the budgeted outlay for roads and highways is US$ 1654.9 million for 2014-15.
- The state government is taking steps to create Nalanda University in Rajgir, Bihar, with the first academic session set to start from 2014.
- The Bihar government is preparing a 20-year master plan for promotion and development of tourism in the state.
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