{"id":7781,"date":"2024-06-14T03:18:26","date_gmt":"2024-06-14T03:18:26","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=7781"},"modified":"2024-06-14T03:18:26","modified_gmt":"2024-06-14T03:18:26","slug":"bihar-seeks-rs-20000-crore-for-infra-1-hike-in-fiscal-deficit-limit","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/bihar-seeks-rs-20000-crore-for-infra-1-hike-in-fiscal-deficit-limit\/","title":{"rendered":"Bihar seeks Rs 20,000 crore for infra, 1% hike in fiscal deficit limit"},"content":{"rendered":"

Bihar<\/u>has urged the Centre to allot Rs 20,000 crore in the 2023-24 Union budget for development and creation of assets in the state and suggested 90:10 ratio of the central and state Shares<\/a> of funding for the centrally sponsored schemes (CSS). The state also suggested to the Centre to increase the state’s Fiscal Deficit<\/a> to 4% of the gross state domestic product (GSDP).<\/p>\n

Similarly, Choudhary suggested that the Cess and Surcharge<\/a> collected by the Centre should be included in the central divisible pool to transfer a part of it to the states.<\/p>\n

Noting that the central fiscal deficit has been periodically increased in the past far beyond 6%, Choudhary said the Centre should permit the state to have its fiscal deficit 1% more than the mandatory 3% of the GSDP for a backward state like Bihar.<\/p>\n

Choudhary said the Centre had provided Rs12,000 crore under Bihar specific plan (BSP) in the 2012 Budget for use in Infrastructure Development<\/a> and on the creation of assets.<\/p>\n

While 95% of the BSP fund provided in 2012 had been utilised, another chunk of Rs20,000 crore should be allotted in the forthcoming Union budget as BSP-Phase II, Choudhary said.<\/p>\n

The minister also included a memorandum of the demands of the state. He asked for the transfer to the State Government<\/a> the central fund meant for the repair and maintenance of thePMGSYroads, also separate allotment for the state to be used on the linking of panchayats, villages and haats\/bazaars with the district headquarters.<\/p>\n

Further, Choudhary demanded one-nation, one-tariff in the power sector and permission to raise Money<\/a> from the specific fund ofNABARDfor use by the power distribution companies for fixing smart prepaid meters.<\/p>\n","protected":false},"excerpt":{"rendered":"

Biharhas urged the Centre to allot Rs 20,000 crore in the 2023-24 Union budget for development and creation of assets in the state and suggested 90:10 ratio of the central and state Shares of funding for the centrally sponsored schemes (CSS). The state also suggested to the Centre to increase the state’s Fiscal Deficit to … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1087],"tags":[744],"class_list":["post-7781","post","type-post","status-publish","format-standard","hentry","category-bihar","tag-09-12-22"],"yoast_head":"\nBihar seeks Rs 20,000 crore for infra, 1% hike in fiscal deficit limit - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/bihar-seeks-rs-20000-crore-for-infra-1-hike-in-fiscal-deficit-limit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bihar seeks Rs 20,000 crore for infra, 1% hike in fiscal deficit limit\" \/>\n<meta property=\"og:description\" content=\"Biharhas urged the Centre to allot Rs 20,000 crore in the 2023-24 Union budget for development and creation of assets in the state and suggested 90:10 ratio of the central and state Shares of funding for the centrally sponsored schemes (CSS). 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The state also suggested to the Centre to increase the state’s Fiscal Deficit to ... 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