Financial Daily from THE HINDU group of publications
Monday, Feb 13, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 13, 2006 |
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Industry & Economy
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Economy Bihar annual Plan size pegged at Rs 8,250 cr Our Bureau
New Delhi , Feb. 12 THE annual Plan size for Bihar for 2006-07 has been pegged at Rs 8,250 crore, including the additional Central assistance of Rs 50 crore for priority schemes. This was decided at a meeting between the Chief Minister, Mr Nitish Kumar, and the Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, here. Bihar's annual Plan size for 2005-06 stood at Rs 5,400 crore. Mr Ahluwalia said the Prime Minister was keen on expediting development of Bihar and had directed the Planning Commission to put in special efforts. He said that a team of experts from the Planning Commission would be visiting the State shortly to have an on-the-spot assessment of problems and evolve means for speedy addressal. Mr Ahluwalia also said that the Commission would request the Finance Ministry to enhance borrowing limit of Bihar as a special case in the wake of huge infrastructure gaps. Attention was also drawn to slow pace of expenditure in Sarva Siksha Abhigyan and non-availability of land for construction of buildings. It was pointed out that around 20 lakh boys and girls are out of school and efforts should be made to improve enrolment. Briefing the Planning Commission on the new initiatives taken by the Bihar Government, the Chief Minister said that the Government was planning to introduce fiscal responsibility and budget management Act through the ordinance route. He said that this legislation would aim at bringing down the revenue deficit to zero and fiscal deficit to 3 per cent of State-gross domestic product. On power sector reforms, Mr Nitish Kumar said that regulatory commission has already been set up and that the Bihar State Electricity Board has been unbundled into six companies.
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