Vajpayee spells out peace package for Nagaland

"I have now decided to extend a peace bonus to Nagaland. An amount of Rs 365-crore extended to Nagaland as Ways and Means loans, will now be converted into a one-time grant. This will enable the state to meet all its past liabilities and will also result in an annual interest savings of Rs 44 crore by the state," the Prime Minister said in a statement here.

Stating that sustainable development was the only key to an enduring peace process, Vajpayee said the Naga peace process had attained momentum and needed to be sustained.

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