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Home > News > Report

Bihar to float Rs 2000 cr bonds for flood relief

Anand Mohan Sahay in Patna | October 31, 2007 16:55 IST

Flood-ravaged Bihar will float government bonds worth Rs 2000 crore for generating funds to be utilised for repair and construction of basic infrastructures like  roads, bridges, embankments, government buildings, houses that were badly damaged due to floods.

"The state government had already sought an approval from the centre for floating government bonds," a senior official in the chief minister's office told rediff.com on Wednesday.

The widespread damage caused by the floods in Bihar has led United Nations to label it the "worst floods in living memory".

Over 22 million people in 21 districts, mostly in north Bihar bordering Nepal, were affected by the floods that claimed 680 lives so far.

Floods have badly damaged long stretches of roads, embankments and bridges in the flood-hit districts. "Floods badly damaged or breached roads, similarly embankments have been damaged and washed away," a senior official in the state government said.

Chief Minister Nitish Kumar on last Saturday met the Prime Minister Manmohan Singh [Images] and had sought a special package of Rs 18,000 crore for infrastructure building and relief distribution in the flood hit districts.

Nitish Kumar reportedly requested the prime minister to expedite decision on the special package submitted by the state. The special plan has been prepared seeking an assistance of Rs.17,059 crores.






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