Bihar Sees Industrial Growth: BSPCB Reports Surge in CTE 'CTO Applications
Sep 03, 2024 23:01
Bihar's industrial growth is evident in the rising number of CTE 'CTO applications received by the BSPCB, signaling investor confidence and a favorable business environment.
Patna, Sep 3 (PTI) The pollution control board here on Tuesday claimed that an increase in the number of industries seeking consent to establish units in Bihar shows that the state is now on a "path of industrial growth".
According to a statement issued by the Bihar State Pollution Control Board (BSPCB), the latest data indicates a "consistent rise in Consent to Establish (CTE) and Consent to Operate (CTO) applications, signalling growing investor confidence and industrial expansion" in the eastern state.
"The growth in setting up new industries is evident from data pertaining to the increase in the number of industries seeking consent to establish and operate in the state, reflecting a positive trend in industrial growth and development. This shows that Bihar is now on a path of industrial growth due to promotional policies of the state government". .
From 2020 to 2024, the number of CTE and CTO applications received by BSPCB has shown an upward trajectory.
"In 2020, a total of 3,578 applications were received, which has progressively increased each year, reaching 7,933 applications in 2023. Notably, in 2024, the state has already received 5,564 applications by August, highlighting a sustained industrial interest and investment", the statement said.
The number of approved applications has also seen a substantial rise, from 3,171 in 2020 to 6,695 in 2023.
Data showcased the board's "efficiency in processing and supporting industrial ventures", the statement said.
"The significant increase in CTE and CTO applications is a clear indicator of growing confidence among investors and entrepreneurs in Bihar's conducive business environment," it said.
This "positive" trend underscores Bihar's commitment to fostering an enabling environment for industries to flourish, the BSPCB said.
The state's pro-business policies, improved infrastructure, and streamlined regulatory processes have collectively contributed to this industrial boom, it added.
"The Bihar government remains dedicated to facilitating sustainable industrial development that balances economic growth with environmental stewardship. The surge in CTE and CTO applications is not just a testament to the state's favourable industrial climate but also a promise of continued progress and prosperity for the people of Bihar", it added.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.