Vibrant Bihar on anvil?

The spectacular growth rate of 11.04 per cent in the last five years in Bihar has been music to the ears. The icing on the cake is 11.4 per cent growth in last fiscal, with experts raising hope of the "Bimaru" state turning into a miracle economy.

Immediate explanation could be a very low base which could have given a double digit groth rate. Preceding the NDA rule headed by Nitish Kumar, the misrule of 15 years by Lalu-Rabri combine had taken the state to the abyss. Coming out of a long dark tunnel, a glimpse of light could be sparkling enough to fill the hearts with hope. Bihar hopefully appears on the verge of a historical opportunity to script a new beginning of hope fuelled by an abundent and ambitious human resources, who have otherwise been flocking other places for better lives.

The fact hitherto unknown to others in rest of the country is the robust deposits in the banks of Bihar. However, killing the economy or rather discouraging the enterprising youth of the state is the fact that the banks have been too shy to lend. The credit to deposit ratio (the amount of money lent to the people against the deposits in various forms like savings, etc.) as per the Reserve Bank of India is a meagre 32 per cent. A growing and health economy shall require this to be above 50 per cent. This shows that though the money is there it's not being given by the banks for growth to the people for reasons best known to them and easily explained for their known prejudices. A case could easily be made that Bihar's money is being used to help other states to grow at the expanse of this poor state, which requires a much more benign banking system.  

A visit to the state after a long time was quite a pleasant surprise. Roads are much better. Police is more responsive. People have a better attitude, a departure from fatalist world view that they used to have. The people now openly express that a government in the state can really deliver and has delivered. Kudos to Mr Nitish Kumar and his team. A stark comparison befits a mention here. Your travel on Bihar roads will now be pleasant but the moment you cross into the neighbouring Jharkhand you should feel the urge to swallow a pain killer given all the bumpy rides that the crumbled or rather disappeared roads there offer you, which shall stand a testimony for five years of organised loot under the then Independent chief minister Madhu Koda.    

It must be noted that the growth in Bihar has been achieved with an apathetic Central government, whose Babus have been more interested in Mumbais, Delhis and Ahmedabads for the growth of the country. The success of Bihar should be a slap into the face of the jaundiced Delhi Babus, who badly needs to take fresh lesson in governance.