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World Bank loan for Himachal

Staff correspondent

Major chunk will be outright grant

SHIMLA: The Himachal Pradesh Cabinet on Wednesday gave its approval to a World Bank loan for carrying out various developmental activities in the State. Out of the loan amount of Rs. 800 crore (US $ 200 million), 90 per cent would be outright grant and 10 per cent loan through the Government of India.

The Bank has sanctioned a $ 480,000 grant for carrying out studies, undertaking skill studies, planning and management of hydro power, improving capacity in the State to manage environment and resources; and to promote the tourism industry in Himachal Pradesh.

In addition, the Government has already received Rs. 900 crore from the World Bank for road development, said an official spokesman here.

The Cabinet meeting, chaired by Chief Minister Virbhadra Singh, accorded its approval for a Group Personal Accident Insurance Scheme for regular, ad hoc, contractual, part-time and daily wage employees of Government departments, Boards, Corporations, Universities and Autonomous organisations on a compulsory basis.

The scheme would cover 2.75 lakh employees.

The Cabinet also approved of a lease of land measuring about 45 bighas for 30 years for setting up of Amity University at Dharamshala.

The Cabinet approved of the H.P. Fiscal Responsibility and Budget Management (Amendment) Rules, 2007, and amendment to the General Provident Fund (Central Services) Rules, 1960.

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World Bank loan for Himachal

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