Bihar to take loans from WB, BRICS Bank for fulfilling Seven Commitments: CM
Patna,(BiharTimes): Chief minister Nitish Kumar on Thursday said that Bihar would take loans from World Bank, BRICS Bank and NABARD to fulfil his Seven Commitments.
The state needs around Rs 2.72 lakh crore to make roads and provide free electricity connection, tap water to every household and Rs 1,000 self-help allowance to unemployed youths in the age group of 21 to 25 years for nine months a year for two years.
Nitish Kumar, while speaking at a function organised by rural works department on Thursday, said, the state government had decided to make all weather road in every village and are taking loans from World Bank, NABARD and BRICS Bank.
Earlier, the chief minister inaugurated 947 roads and 38 bridges constructed at a cost of Rs 1,571.65 crore by the rural works department. He also started work on another 554 roads and 42 bridges at a cost of Rs 2305.73 crore.
However, Nitish did not disclose the amount of loan the state has planned to take from different financial institutions. The chief minister expressed hope that rural roads would help in better marketing of farmers’ produces as it would reduce travel time and cost of transportation.