Bihar Finance Minister Vijay Kumar Choudhary on February 28, 2023 tabled over ₹2.61 lakh crore ‘revenue surplus Budget’ in the State Assembly, while putting thrust on employment, health and education sectors. Mr.Choudhary also demanded special status for Bihar, from the Central government.
“In our estimated revenue arrangement this is a revenue surplus Budget in which the State’s growth rate will be above 10%,” he told media persons, after presenting the Budget for the fiscal year 2023-24 in the State Assembly. Mr.Choudhary also put thrust on employment, health and education sectors in the Budget and said the expenditure on social services had been increased by 11 times in the State.
“Within the primary sector, the two most important contributors to the growth of GSDP have been livestock and fishing, aquaculture, registering growth rates of 9.5% and 6.7%, respectively”, he said.
The total proposed Budget expenditure of ₹2,61,885.40 crore for the fiscal year 2023-24 is ₹24,194.21 crore more than the previous financial year. The fiscal deficit remained at 3.78% of the State Gross Domestic Product (SGDP), which is under the prescribed conditional limit of 4.5%. The Budget also pointed out that the grants-in-aid expected from the Centre for the current fiscal year was estimated at ₹53,377.92 crore, which was ₹4,623.37 crore less than what was received in the previous fiscal year. However, the Budget noted a slight increase in the State’s share in Central taxes which was at ₹1,02,737.26 crore for 2023-24 and had been ₹376.12 crore more than the previous year.