Market Live

Tuesday, 13 December 2016

Nitish Kumar writes to PM for release of pending Rs 6395.19


Bihar Chief Minister Nitish Kumar haswritten a letter to Prime Minister Narendra Modi and urged himto order the release of Rs 6,395.19 crore pending with the Centre in the current fiscal. Kumar in his letter sought the release of Rs 494.34 croreon account of pending projects for the 10th and 11th five year plans and Rs 4,998.77 crore for completion of pending projects of the 12th five year plan. He urged the PM for release of the left out amount of Rs 902.08 crore approved in the 12th five year plan for which a proposal has already been sent to the Centre. 

Kumar said in his letter, which was released to the media last night, that the state government with limited financial resources was not in a position to fund the completion of pending projects of previous plan periods. "In the event of the Centre not making available adequate funds, the pace of projects (roads, electricity etc.) has slowed down and which has telling effects," he said. "It cannot be denied that non-availability of funds on time could result in cost overrun and effect the quality of the projects too,

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