Bihar to float Rs 2000 cr bonds for flood relief
Anand Mohan Sahay in Patna
rediffnews.com
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.