REINVENTED BIHAR

REINVENTED BIHAR
This is a general belief that India would emerge as a global economic power in 21st century. for this emergence, the state of Bihar with its 82 million population will have to be a strong development partner.
After decades of non performance Bihar has finally reinvented itself as one of the most happening state of India. The two digit growth rate (11.35%) is not a flash in the pan. This could be achieved only through the painstaking efforts to reconstruct an almost non-functioning state.
The 1st phase of growth in Bihar is driven primarily by public investment. The plan expenditure of state at 4899 crore in 05-06 had more than trebled in just 3 years. In 2008-09 it stood at 15476 crore. This trend is expected to continue and that will insure crowding in of private investment both external and internal.
This growth could be possible because of numerous reforms introduced in the state. These reforms have not only improved government functioning but also created a base for private sector investment. The reform range from fiscal management to reducing the cost of business activity and improving investment climate, through passing FRBM act 2006 and Bihar single window clearance act (BSWCA). Even with initial reform attempts, the result in Bihar is dramatic. The time to start a business has reduced from 41 days to 30 days. The turn around in Bihar is tangible and visible in many spheres including physical infrastructure (roads both urban and rural), education, and health.
1st phase of growth is nearly complete and now Bihar needs 2nd stage of growth. For 2nd stage of growth six critical components are:-
1. Land record updates.
2. Power generation.
3. Water management.
4. Credit deposit ratio.
5. Public private partnership (PPP).
6. Delivery system.