Buy land directly to invest in Bihar, says official

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SME Times News Bureau | 18 May, 2013
Entrepreneurs wanting to invest in Bihar should acquire land directly from farmers as land acquisition by the government would cost more, a top government official said Friday.

"If you purchase land directly from the farmers, you will get it at a much cheaper rate than we can provide it to you," said Naveen Verma, director of Food Processing Industries, Bihar.

Verma was speaking at the "Roadshow on Promotion of Food Processing Industry in Bihar", organised by the Indian Chamber of Commerce.

"If the government acquires land for anyone, we have to purchase it at a price which is 2.4 times higher than the circle rate. After including development charges, the price is around Rs.1 crore per acre, which does not attract many investors," he said.

Verma said that the Bihar government has initiated a scheme called "Aao Bihar" (come to Bihar) where farmers, who are willing to sell or lease out their land, can contact the government with the details of land. In turn, the government would upload the details on its website for potential investors.

"Though the negotiations will be between the farmers and the investors, the government will bring them closer," he said.

He urged entrepreneurs to invest in the state's food processing, manufacturing, tourism and IT sectors as Bihar had ample scope for those both in terms of market as well as raw materials.