Party banks on Munda’s year-long goodwill

For two major banks — SBI and ICICI — the move has brightened the scope of business here. With this, Munda has managed to achieve what his predecessor, senior party colleague and the state’s first CM Babulal Marandi, couldn’t.

Says Roshan Anurag of ICICI: ‘‘The market for banks in this mineral-rich state was always there. But the Munda government has helped create prospects and buoyancy. It has definitely generated hope.’’ During Munda’s tenure, ICICI gained the accounts of 15 state government departments with a net deposit exceeding Rs 22 crore. ‘‘We have drawn plans to lend Rs 500 crore to the government this year for development of infrastructure,’’ says Anurag.

For SBI, which handled the state government’s business to the tune of 80 to 90 per cent of the revenue receipts totalling Rs 9,329 crore and its expenditure of Rs 9,489.32 crore during 2003-04, the feelgood was inevitable since the Munda government’s budget envisaged a plan to hike the said amounts to Rs 10,566.92 crore and Rs 10,976 crore respectively this year.

‘‘We are happy with his fiscal policy,’’ said SBI’s Ajit Mohanty. He feels no bank has anticipated that Munda would deliver and bring stability. That he has not only done so, but also went beyond the domicile agitation which had split parties in the state, including the BJP, during Marandi’s tenure, can be seen from some examples: 33,000 constables, teachers and doctors appointed — most of them on contract basis — against existing vacancies in the state. A network of 1,450 km of roads was built.

Whether these measures will yield votes for the BJP remains to be seen. But all is still not well. Power cuts are as frequent as ever and the government’s promise to put 5,000 villages on the electricity map has still not taken off.