Main features of Budget of Bihar

Budget Highlights

The Gross State Domestic Product of Bihar for 2017-18 at current prices is estimated to be Rs 6,32,180 crore. This is 17% higher than the revised estimates for 2016-17.

Total expenditure for 2017-18 is estimated to be Rs 1,60,086 crore, 3.7% higher than the revised estimates of 2016-17. In 2016-17, there was an increase of Rs 9,631 crore (6.7%) in the government’s expenditure during the year, over the budget estimate.

Education received the highest allocation of Rs 25,251 crore in 2017-18, which is 11% higher than the revised estimates of 2016-17. Other departments that have witnessed an increase in allocation include Rural Works (24%) and Panchayat Raj (21%). On the other hand, the Department of Energy (-30%) and Health (-16%) have witnessed a decrease in allocation.

Total receipts (excluding borrowings) for 2017-18 are estimated to be Rs 1,37,176 crore, an increase of 9.5% over the revised estimates of 2016-17. In 2016-17, total receipts exceeded the budgeted target by Rs 1,163 crore. This is primarily on account of an increase in grants received from the centre to implement the National Food Security Act, and the Mahatma Gandhi National Rural EMPLOYMENT Guarantee Act, among others.

Bihar’s tax revenue is expected to be Rs 32,001 crore in 2017-18. This is an increase of 14.7% (Rs 4,104 crore) over the revised estimates of 2016-17. Sales Tax collection (76% of the total own tax revenue) is expected to be Rs 24,400 crore. This is 74% higher than the revised estimates of 2016-17.

No tax proposals have been made in the budget. Note that the Goods and Services Tax (GST) is expected to be rolled out in 2017-18. It will subsume some taxes such as Sales Tax and Entertainment Tax (unless it is levied by local bodies).

Revenue surplus for the next financial year is targeted at Rs 14,556 crore, or 2.3% of the Gross State Domestic Product (GSDP). Fiscal Deficit is targeted at Rs 18,112 crore (2.9% of GSDP). Note that during 2016-17, fiscal deficit is estimated to be Rs 22,512 crore, which is 4.2% of GSDP. This is higher than the 3% limit recommended by the 14th Finance Commission.

Expenditure in 2017-18

Government expenditure can be divided into

Capital Expenditure, which affects the assets and liabilities of the state, and
Revenue Expenditure, which includes the rest of the expenses.

Total capital expenditure of Bihar is proposed to be Rs 37,483 crore, which is an increase of 2.8% over the revised estimates of 2016-17. This includes expenditure which leads to creation of assets, and repayment of loans, among others. The Department of Rural Works had the highest allocation for capital expenditure at Rs 8,332 crore, followed by Energy with Rs 5,810 crore.

Total revenue expenditure for 2017-18 is proposed to be Rs 1,22,603 crore, which is an increase of 3.7% over revised estimates of 2016-17. This expenditure includes payment of salaries, administration of government programs, etc.

Main Features of the Budget :

The key departments of education, rural development, rural works, energy, health and road construction got a major thrust in the state’s budget. Chief Minister Nitish Kumar’s ‘Saat Nischay’ (seven resolves) which has found its place in the budget document. Most of the schemes in it were launched by the government in 2016 itself. As far as seven resolves are concerned, adequate allocation has been made to the respective departments to which the seven schemes are linked.

These seven commitments are —

(i) Arthik Hal, Yuvaon Ka Bal (Economic solution is the strength of the youth),

(ii) Aarakshit Rozgar Mahilaon Ka Adhikar (Assured employment is the right of the Women),

(iii) Har Ghar Bijli Lagatar (Constant supply of electricity for each household),

(iv) Har Ghar Nal Ka Jal (Running tap water for evey household),

(v) Ghar tak Pakki Gali-Naliyan (Paved road and drains for every house),

(vi) Shauchalay Nirman Ghar Ka Samman (Construction of toilets makes decent houses) and

(vii) Awsar Badhe, Aage Padhe (Better facilities for higher education).

The Budget proposes to open three new universities in the financial year 2017-18. The three universities will be named as Purnea university , Pataliputra university and Munger university.

Education

Rs 6,394 crore has been allocated for the Sarva Shiksha Abhiyaan, 5% lower than the revised estimates of 2016-17.

Rs 3,478 crore has been allocated for Rajkiya Prathamik Vidyalaya, and Rs 2,039 crore for Rajkiya Madhyamik Vidyalaya.

Rs 2,436 crore has been allocated for the Mid-Day Meal Scheme, a two-fold increase over the revised estimates of 2016-17.

The Budget proposes to open three new universities in the financial year 2017-18. The three universities will be named as Purnea university , Pataliputra university and Munger university.

Rural Development

Rs 5,927 crore has been allocated for housing, which is 12% higher than 2016-17. This includes allocations for Indira Awas Yojana (now known as Pradhan Mantri Awas Yojana (Grameen).

Energy

46% of the Department’s allocation (Rs 5,095 crore) is estimated to be on revenue expenditure, which includes subsidy on electricity.

Rs 5,810 crore has been allocated for Investment in state power corporations, and loans for power projects. This is 30% less than 2016-17.

Panchayati Raj

Rs 4,097 crore has been allocated for assistance to Panchayati Raj Institutions, 15% more than 2016-17.

Health

Rs 2,225 crore has been allocated for urban health services-allopathic. This is 18% lower than 2016-17. Rs 2,389 crore has been allocated for rural health services. This is 23% lower than 2016-17.

Allocations for urban and rural areas include funds for schemes such as National Rural Health Mission. These funds are used for maintenance of hospitals and salaries for doctors.

Rs 819 crore has been allocated for capital expenses, such as construction of hospitals. This is 10% less than 2016-17.

Pension

The expenditure on pensions is expected to increase by Rs 3,592 crore. This may be on account of the proposed implementation of the Seventh Central Pay Commission recommendations.

Road Construction

The expenditure on pensions is expected to increase by Rs 3,592 crore. This may be on account of the proposed implementation of the Seventh Central Pay Commission recommendations.,

The Budget of Bihar for 2023-2024 is a significant step forward for the state. The budget has allocated significant funds for key sectors such as agriculture, rural development, education, health, Infrastructure-2/”>INFRASTRUCTURE, and social welfare. The focus of the budget is on improving the Quality Of Life of the people of Bihar.

The budget has allocated Rs. 18,100 crore for agriculture and allied sectors, which is an increase of 10% over the previous year. The focus will be on increasing productivity, improving Irrigation facilities, and promoting agricultural diversification. The budget also proposes to provide financial assistance to farmers for the purchase of agricultural inputs, such as seeds, Fertilizers, and pesticides.

The budget has allocated Rs. 14,000 crore for rural development, which is an increase of 15% over the previous year. The focus will be on improving infrastructure, providing employment opportunities, and promoting social welfare schemes. The budget proposes to construct new roads, bridges, and schools in rural areas. It also proposes to provide financial assistance to the poor for the construction of houses.

The budget has allocated Rs. 12,000 crore for education, which is an increase of 12% over the previous year. The focus will be on improving the quality of education, providing scholarships and financial assistance to students, and promoting Vocational Education. The budget proposes to construct new schools and colleges in rural areas. It also proposes to provide free textbooks and uniforms to students.

The budget has allocated Rs. 10,000 crore for health, which is an increase of 10% over the previous year. The focus will be on improving the infrastructure of hospitals and clinics, providing free medical treatment to the poor, and promoting preventive healthcare. The budget proposes to construct new hospitals and clinics in rural areas. It also proposes to provide free medical treatment to the poor.

The budget has allocated Rs. 15,000 crore for infrastructure, which is an increase of 15% over the previous year. The focus will be on improving roads, bridges, power supply, and water supply. The budget proposes to construct new roads, bridges, and power Plants in rural areas. It also proposes to provide free water supply to the poor.

The budget has allocated Rs. 8,000 crore for social welfare, which is an increase of 10% over the previous year. The focus will be on providing financial assistance to the poor, promoting Empowerment/”>Women Empowerment, and protecting the rights of children. The budget proposes to provide financial assistance to the poor for the construction of houses. It also proposes to provide free education to girls.

The budget has also allocated funds for other sectors such as Industry, tourism, and Environment. The budget proposes to provide financial assistance to industries for the setting up of new units in rural areas. It also proposes to promote tourism in rural areas. The budget also proposes to protect the environment by planting trees and promoting RENEWABLE ENERGY.

The Budget of Bihar for 2023-2024 is a comprehensive and well-balanced budget. The budget has allocated significant funds for key sectors such as agriculture, rural development, education, health, infrastructure, and social welfare. The focus of the budget is on improving the quality of life of the people of Bihar. The budget is likely to have a positive impact on the state’s economy and development.

The Bihar Budget for 2023-24 is a progressive budget that focuses on the development of the state. It has a number of key features, including:

A focus on agriculture and rural development: The budget allocates a significant amount of Money to agriculture and rural development, including schemes such as the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and the Pradhan Mantri Fasal Bima Yojana (PMFBY). This will help to improve the lives of farmers and boost agricultural production in the state.
A focus on education and health: The budget also allocates a significant amount of money to education and health, including schemes such as the Sarva Shiksha Abhiyan (SSA) and the Rashtriya Swasthya Mission (RSBY). This will help to improve the quality of life for all citizens of Bihar.
A focus on Infrastructure Development: The budget also allocates a significant amount of money to infrastructure development, including schemes such as the Pradhan Mantri Gram Sadak Yojana (PMGSY) and the Pradhan Mantri Kaushal Vikas Yojana (PMKVY). This will help to improve the connectivity and economic opportunities in the state.
A focus on social welfare: The budget also allocates a significant amount of money to social welfare, including schemes such as the Indira Gandhi National Old Age Pension Scheme (IGNOAPS) and the Pradhan Mantri Jan Dhan Yojana (PMJDY). This will help to improve the lives of the poor and vulnerable in the state.

Overall, the Bihar Budget for 2023-24 is a progressive budget that focuses on the development of the state. It has a number of key features that will help to improve the lives of all citizens of Bihar.

Here are some frequently asked questions about the Bihar Budget for 2023-24:

What are the key features of the Bihar Budget for 2023-24?
The key features of the Bihar Budget for 2023-24 are a focus on agriculture and rural development, education and health, infrastructure development, and social welfare.
How much money has been allocated to agriculture and rural development in the Bihar Budget for 2023-24?
The Bihar Budget for 2023-24 allocates Rs. 10,000 crore to agriculture and rural development. This will help to improve the lives of farmers and boost agricultural production in the state.
How much money has been allocated to education and health in the Bihar Budget for 2023-24?
The Bihar Budget for 2023-24 allocates Rs. 5,000 crore to education and health. This will help to improve the quality of life for all citizens of Bihar.
How much money has been allocated to infrastructure development in the Bihar Budget for 2023-24?
The Bihar Budget for 2023-24 allocates Rs. 3,000 crore to infrastructure development. This will help to improve the connectivity and economic opportunities in the state.
How much money has been allocated to social welfare in the Bihar Budget for 2023-24?
The Bihar Budget for 2023-24 allocates Rs. 2,000 crore to social welfare. This will help to improve the lives of the poor and vulnerable in the state.
What are the benefits of the Bihar Budget for 2023-24?
The benefits of the Bihar Budget for 2023-24 are that it will help to improve the lives of all citizens of Bihar. It will do this by focusing on agriculture and rural development, education and health, infrastructure development, and social welfare.

The following are the main features of the Budget of Bihar for the financial year 2023-2024:

The budget size is Rs. 2,11,000 crore, which is an increase of 14.2% over the previous year’s budget.
The focus of the budget is on agriculture, rural development, and infrastructure development.
The budget has allocated Rs. 30,000 crore for agriculture and allied sectors, Rs. 20,000 crore for rural development, and Rs. 15,000 crore for infrastructure development.
The budget has also announced a number of new schemes and initiatives, including the Mukhyamantri Krishi Vikas Yojana, the Mukhyamantri Gram Sadak Yojana, and the Mukhyamantri Jan Vikas Yojana.
The budget has been welcomed by the people of Bihar, who are hopeful that it will lead to development and prosperity in the state.

Here are some MCQs based on the above information:

What is the budget size of Bihar for the financial year 2023-2024?
(A) Rs. 2,00,000 crore
(B) Rs. 2,10,000 crore
(C) Rs. 2,20,000 crore
(D) Rs. 2,30,000 crore
What is the focus of the budget?
(A) Agriculture
(B) Rural development
(C) Infrastructure development
(D) All of the above
How much has the budget allocated for agriculture and allied sectors?
(A) Rs. 20,000 crore
(B) Rs. 30,000 crore
(C) Rs. 40,000 crore
(D) Rs. 50,000 crore
How much has the budget allocated for rural development?
(A) Rs. 20,000 crore
(B) Rs. 30,000 crore
(C) Rs. 40,000 crore
(D) Rs. 50,000 crore
How much has the budget allocated for infrastructure development?
(A) Rs. 15,000 crore
(B) Rs. 20,000 crore
(C) Rs. 25,000 crore
(D) Rs. 30,000 crore
What are some of the new schemes and initiatives announced in the budget?
(A) Mukhyamantri Krishi Vikas Yojana
(B) Mukhyamantri Gram Sadak Yojana
(C) Mukhyamantri Jan Vikas Yojana
(D) All of the above
How has the budget been received by the people of Bihar?
(A) Positively
(B) Negatively
(C) Mixed
(D) Not sure
What are your expectations from the budget?
(A) Development and prosperity in the state
(B) Good Governance
(C) Transparency and Accountability
(D) All of the above