Bihar government to 'float bonds' for flood ravaged area

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Begusarai, Oct 30 (UNI) The Bihar government has decided to issue bonds of Rs 2000 crore to raise funds for repairing roads, buildings and culverts damaged by devastating floods in north Bihar this year.

Chief Minister Nitish Kumar said this while distributing cheques to farmers against agriculture subsidy here today.

He also urged the Centre to give clearance to the state government for floating the bonds. After the clearnce, the government would initiate the process for issuance of the bonds, he added.

"I had personally urged the Prime Minister to grant special package of Rs 18000 crore to Bihar for carrying out the task of restructuring the roads and bulidings and giving compenasation to the victims, affected by floods", Mr Kumar stated.

He said viable solution to perennial problem of floods in north Bihar could be found through dialogue with Nepal as mojority of the rivers from that flowing here were responsbile for floods".

Construction of a high dam in Nepal was the only technical remedy to this menace, he said adding the issue should be effectively raised with Nepal by the Centre without any further loss of time.


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