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Panchet Dam was the last of the four multi-purpose dams included in the first phase of the Damodar Valley Corporation. It was constructed across the Damodar River at Panchet in Dhanbad district in the Indian state of Jharkhand, and opened in 1959. As a result of the catastrophic flood of 1943, the Governor of Bengal appointed the Damodar Flood enquiry committee to suggest remedial measures. It suggested creating an authority similar to that of the Tennessee Valley Authority in the United States.
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