Financial Daily from THE HINDU group of publications
Friday, Dec 09, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 09, 2005 |
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Industry & Economy
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Economy Bihar to seek `special category' status Our Bureau
New Delhi , Dec. 8 BIHAR plans to seek a `special category' status from the Planning Commission to enable fast track development of the State. The Chief Minister of Bihar, Mr Nitish Kumar, is to meet the Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, here on Friday to discuss, among other things, the annual Plan allocation for the State for the fiscal year 2006-07. "We will ask for special category status. Tax incentives are also needed for attracting investments," Mr Nitish Kumar told newspersons on Thursday on the sidelines of a conference on `Democracy, Development and Social Justice' organised by the Hindi daily Dainik Jagran. A special category status would help Bihar in getting 90 per cent of the planned Central assistance as grant and only 10 per cent as loan. For other States, the grant element is only 30 per cent. Earlier, addressing the conference, Mr Nitish Kumar said that the Centre should help Bihar to increase its growth rates if the country was to achieve an annual growth rate of 10 per cent. "With a mere four per cent growth rate in Bihar, one cannot think of the country achieving 10 per cent. So, if the Centre is keen on 10 per cent rate, it should bring Bihar to that level by investing more funds", he said. On democracy, the Bihar Chief Minister said that there is no better alternative than democracy. He also stressed on the need for the fruits of development to reach the grassroots.
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