A day after proving majority in the Bihar Assembly with
comfortable margin, the Nitish Kumar government on Thursday presented
the revenue surplus budget expenditure of Rs. 1,20 685.32 crore for the
year 2015-16 with no new or extra taxes imposed on the people of the
state.
In the budget presented by
the State finance minister Bijendra Yadav the Non Plan Expenditure for
2015-16 is estimated at Rs. 63,259.59 crore, which is Rs. 4028.55 crore
more than last year and State Plan Outlay is estimated at Rs. 57137.62
crore, which is Rs. 254.82 crore less than Rs 57392.44 crore for the
year 2014- 15. The Centrally Plan Scheme (CPS) for the financial year
2015-16, however, is estimated at Rs. 288.11 crore.
“If
revenue receipt is more than revenue expenditure the surplus amount is
called revenue surplus. For the year 2015-16 revenue surplus is Rs.
11980.95 crore which is 2.63 per cent of GSDP, estimated as Rs 4,55,451
crore for the year 2015-16”, said the State Finance Minister.
This
revenue surplus will be used for investment in physical infrastructure
generating productive capital assets like roads, buildings, power,
schools, health centres, irrigation schemes etc., he added further.
However, for the year 2015-16 the estimated Fiscal Deficit is Rs
13584.46 crore, which is 2.98 percent of GSDP Rs 455451 crore.
The
minister further said that Bihar is one of those States which have
taken its fiscal responsibility seriously and implemented the FRBM
(Fiscal Responsibility and Budget Managament) Act in letter and spirit.
Meanwhile,
the Opposition BJP leader Sushil Kumar Modi termed the budget as
depressing for the people of the State. “Contrary to the high
expectation from the new government of Nitish Kumar there is no new
development plan declared in the budget. It is a depressing budget”,
said Mr. Modi.
The Hindu
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