| Abstract: | Our glorious past demonstrated the nation’s supremacy in the ancient era. Around 2500 years ago, the light of knowledge shone in Bodh Gaya illuminating the entire world. In fact, even after independence- concrete and full efforts were not made for the industrialization of Bihar. The Bihar government has acknowledged the biggest reason for this, stating that the government itself lacks funds for capital investment. Similarly, much less condition of the people of the state. The Bihar government acknowledged in its memorandum submitted to the Finance Commission that due to low income, low savings, and consequently low capital formation, Bihar lacks the capacity to mobilize sufficient resources for its development and remains industrially backward. As far as industrial development with a lack of mineral resources, a limited number of cottage and small-scale industries are found here based on local resources, agricultural produce and other readily available resources. It is not widely recognized that transforming an economy’s resources use distribution is a more straightforward process than initially appears. Industrialization leads to and is accompanied by an increase in income. Therefore, industrialization is desirable. |
