The Planning Commission, on Wednesday, approved an annual plan of Rs. 10,200 crore for the fiscal year of 2007-08 for Bihar that is an increase of approximately Rs. 2,000 crore, or 23%, over the last year plan.
The plan was approved in New Delhi during a meeting between the Planning Commission deputy chairperson Montek Singh Ahluwalia and Bihar Chief Minister Nitish Kumar.
Among others to be present during the meeting were Bihar Deputy Chief Minister Sushil Kumar Modi and state planning commission deputy chairperson N. K. Singh.
Under the new agreement, Bihar will have to raise Rs. 3,672 crore from various financial institutions, Rs. 3,060 from internal sources while the remaining Rs. 3,468 crore will come in the form of federal assistance.
Kumar, later at a press conference, said he was satisfied by the outcome of the meeting.
"I wished we had got an approval of Rs. 10,700 crore but I am willing to settle for Rs. 10,200 crore as earmarked by the Planning Commission," the Chief Minister said.
(Source-Patna Daily,15/02/07)
