Bihar budget: No new taxes, focus on education and health

Bihar budget: No new taxes, focus on education and health

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Bihar Deputy Chief Minister and Finance Minister Tarkishore Prasad Monday presented a state budget of Rs 2.18 lakh crore — over Rs 7,000 crore more than the budget for the last fiscal.

The Finance Minister also announced the creation of an Entrepreneurship department to work towards creation of over 20 lakh job opportunities in a phased manner. The government did not introduce any new taxes in this budget.

Chief Minister Nitish Kumar said, “Besides the existing scheme of Saat Nischay, we have laid more focus on education and health. It is a comprehensive and inclusive budget.”

Prasad laid emphasis on how the state government would spend a sum of Rs 16,774 crore on schemes devoted to Scheduled Castes. An allocation of Rs 4,671 crore has been made for the Atmanirbhar Bihar Ke Saat Nischay-II scheme.

The maximum allocation was made for education, Rs 38,035 crore, followed by roads (Rs 15,227 crore), health (Rs 13,264 crore) and energy (8,560 crore).

The Finance Minister said that about 1.52 lakh crore has been earmarked for development work. Even though no new tax was imposed, the state expects to collect a revenue of Rs 2,18,502.70 crore. Out of that, the state’s collection from tax collection would be Rs 40,555.47 crore. He said the expected fiscal deficit was Rs 22,510.78 crore — 2.97 per cent of Gross State Domestic Product.

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