HUDCO & Paramount Financial Services have signed a contract to accelerate and help Bihar meet it’s Millennium Development Goals.
On the occasion, president of Paramount Financial Solutions, Mr. S.K.Mittal said, “There is a lot of potential for cold storage plants in Bihar. HUDCO is playing a vital role in financing the various projects including the cold storage projects and it has asked the Paramount Financial Solutions to restructure the loan requirements of such projects. Banks are also aggressive to finance these projects.”
Poverty in Bihar, is the highest among all states in India in terms of consumption measures is intensified by the deficiencies reflected in key human development indicators. For most dimensions of human development education, malnutrition and maternal mortality. Bihar’s performance during the 1990’s falls well short of what is needed to achieve the Millennium Development Goals (MDGs) by 2015.
Bihar’s low growth is a major constraint in both its ability to generate recourses to finance critical, social and infrastructural services and in the generation of the economic opportunities for poor households.
Ultimately the development strategy must aim to help lift standards of living, improve human well-being and thereby eliminate poverty.
Bihar Development Strategy
Elements of a two pillar strategy – The basic development strategy that is presented remain the backbone of Bihar’s economy in the near term. The priority-improving rural infrastructure and strengthening agricultural extension with targeted R&D can help boost the performance of agriculture, agro industry & related services (transport, storage, marketing).
The First Pillar: Improving Bihar’s growth performance and investment climate. A critical element of the development strategy suggested therein to strengthen Bihar’s investment climate to attract productive resources and strengthen growth performance.
The Second Pillar: Strengthening delivery of social services. The need for improved access to services is particularly acute in rural communities where the quality and availability of the services are weakest and the development indicators are the worst.The challenge facing Bihar today is to build on these successes draw lessons from them and use them to push Bihar’s development forward.