Financial Institutions needs lot more to do for Bihar: Nitish

Nitish Kumar said the development had been paced in the state because of "sustained initiatives and investments".

Updated: Feb 12, 2011, 18:45 PM IST

Patna: Bihar Chief Minister Nitish Kumar on Saturday said the development had been paced in the state because
of "sustained initiatives and investments" but financial
institutions required lot more to do for the purpose.

"The development of the state has been paced because of
our personal initiatives and investments by the state
government... Financial institutions have lot more to do for
achieving a complete turnaround", Kumar said while addressing
a function organised by the state social welfare department.

Stating that there were several steps which the financial
institutions have to adopt, the Chief Minister said it would
help boost investments in Bihar.

"There are several such institutions in the state which
have failed to come up to the expectations because of their
contributions being inaqdequate", he said.

Apparently referring to +dilly-dallying attitude+ of the
banking institutions towards adequate distribution and
disbursement of loan, Kumar said be it P Chidambaram or Pranab
Mukherjee as Finance Minister or RBI Governor, whenever they
visited the state the Credit Deposit Ratio (CDR) plumetted.

Kumar said the standard of development in Bihar would
have to be changed with thrust on nutrition, education and
health infrastructure.

"The Gross Domestic Product and financial statistics
should not be the yardsticks for development... Apart from
establishing a network of industries, human development should
be accorded top priority", he added.

Kumar said the state government had decided to make
available health cards to more than 2.7 crore children going
to schools which would have record of nutrition and health.

"The children going to Anganwadi Kendras will also be
issued health cards", Kumar added.

PTI