Patna: The state cabinet on Wednesday approved the govt’s proposal to raise Rs 72,901 crore through market borrowings and other financial instruments to fund development projects and administrative expenditure.The meeting, chaired by CM Samrat Choudhary, cleared 19 proposals from different departments. Cabinet secretariat department additional chief secretary Arvind Kumar Chaudhary said Rs 64,141 crore of the total amount would be raised through market borrowings.In a major push towards artificial intelligence and digital innovation, the cabinet approved the selection of Singapore-based Global Finance and Technology Network (GFTN) for creating an AI ecosystem in the state. The initiative aims to strengthen skill development, innovation and startup support.Officials said GFTN would present Bihar’s AI potential at international platforms, including the Singapore FinTech Festival and Point Zero Forum Zurich. Under the programme, GFTN, National University of Singapore–Asian Institute of Digital Finance and Linex Foundation will jointly conduct a five-month AI certification course. Around 7,000 students from STEM and non-STEM streams will be trained over the next five years.The project also includes creation of an AI and quantum-enabled digital sandbox and Aryabhatta Technology Observatory to support more than 100 startups. Students, researchers, startup entrepreneurs and govt officials will receive exposure in AI and related technologies.The cabinet approved payment of Rs 1 crore to Tata Consultancy Services for annual maintenance of the VATMIS software used by govt departments.In relief to employees and pensioners, the cabinet approved an increase in dearness allowance with effect from Jan 1 this year. DA under the fifth pay commission was increased from 474% to 483%, under the sixth pay commission from 257% to 262%, and under the seventh pay commission from 58% to 60%.The cabinet also sanctioned creation of SP (rural) posts in five sensitive districts — East Champaran, Samastipur, Madhubani, Vaishali and Siwan.It approved opening degree colleges in Piprasi and Bhitaha blocks of West Champaran district and Tetiya Bambar block in Munger district.The cabinet extended the Bihar industrial investment incentive policy package up to June 30 and approved amendments aimed at attracting fresh investment through easier land allotment norms and concessional lease provisions.Approval was also given for transfer of 100 acres in Vaishali district to the Union food processing ministry for setting up the National Institute of Food Technology Entrepreneurship and Management. The cabinet further cleared the CM Bihar State Environment Friendly Transport Employment Scheme to promote electric vehicles, including incentives for women buyers.
