Section 7 in Bihar Industrial Investment Promotion Rules, 2016
7. Financial Incentives to eligible industrial units.
(1)The proposals cleared under rule 6(2)(iv) shall be put up before the competent authority for a decision. All proposal approved in a meeting of the State Board shall be placed before the competent authority in one lot. Decisions shall be taken in the same sequence in which the State Board approves the proposals. In case a proposal has to be approved out of turn, sufficient reasons for such deviations shall be recorded and approved by the Commissioner.(2)The competent authority and the time limit to accord approval and decision of Financial Incentives shall be as follows:-(i)The Commissioner within a time limit of 15 days shall take a decision on the proposals, which involve investment of Rs. 2.5 Crore and less. If the decision on the proposal is not taken within the prescribed timeline, the reason for delay shall be recorded.(ii)Proposals which involve investment of more than Rs. 2.5 Crore and up to a limit of Rs. 10 Crore shall be decided by the Minister, Department of Industries within a time limit of 15 days.(iii)Proposals which involve investment of more than Rs. 10 Crore and up to a limit of Rs. 20 Crore shall be decided jointly by the Minister, Department of Industries and Minister, Department of Finance. The Minister, Department shall decide within 15 days and subsequently the Finance Minister shall take a decision within the next 15 days.(iv)Proposals above Rs. 20 Crore shall be decided by the State Government.(3)The State Government shall revise the above mentioned time limits, financial limits and competent authority, from time to time, through notification.(4)Incentives, once sanctioned, shall be disbursed by the Secretariat without any further reference, to any authority in a time bound manner subject to any conditions which may be attached to the sanction.
