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New Delhi, Jan 6 (IANS) The Cabinet Committee on Economic Affairs (CCEA) Thursday approved an additional Rs.1,000 crore federal grant for Bihar in the current fiscal to accelerate its infrastructure, power and irrigation projects, an official spokesperson here said.
The increased grant follows the CCEA, at its meeting here, approving a proposal to enhance the allocation for the special plan for Bihar from the current level of Rs.1,000 crore to Rs.2,000 crore in fiscal 2010-11. |
The special grant in the next financial year will be Rs.1,468 crore. The federal government has increased the grant in view of the enhanced level of cost of Rs.8,753 crore of all the projects in the state, the spokesperson said.
"The aim of the programme is to accelerate socio-economic development in Bihar. Through the special plan for Bihar, infrastructure, particularly power, roads and irrigation, is being put in place," the Planning Commission said in a statement after the CCEA meeting.
The special plan for the eastern state is currently being funded under the Backward Regions Grant Fund with an annual allocation of Rs.1,000 crore on 100 percent grant basis during the Eleventh Five Year (fiscal 2007-12) plan period.
The total cost of all the projects approved for funding under the special plan for Bihar was Rs.5,568 crore at the time of approval of the Backward Regions Grant Fund in August 2006.
This cost has now increased to Rs.8,753 crore.
"Against this cost, an amount of Rs.5,285 crore has been released till the end of 2009-10 leaving the balance amount of Rs.3,468 crore to be released during 2010-11 and 2011-12," the Planning Commission said.
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