Bijar’s surplus budget focuses on agriculture, infrastructure

February 25th, 2008 - 10:21 pm ICT by admin  

Patna, Feb 25 (IANS) Bihar Finance Minister Sushil Kumar Modi Monday presented the budget for 2008-09 showing a surplus of Rs.4,613 crore (Rs.46.13 billion), with emphasis on agriculture, poverty alleviation, job creation, infrastructure development and irrigation. After presenting the budget amid a boycott by the entire opposition, Modi said the steps taken by the Nitish Kumar government for controlling wasteful expenditure had improved the state’s financial performance.

He also indicated a healthy 14 percent growth in terms of revenue generation from the last fiscal (2007-08) when the surplus was to the tune of Rs.3,483 crore (Rs.34.83 billion).

The total planned and non-planned expenditure for the coming fiscal has been pegged at Rs.38,574.11 crore (Rs.385.74 billion), up from Rs.33,783.71 crore (Rs.337.83 billion) during the current fiscal.

Stating that the capital expenditure was proposed to be increased by 19.5 percent from the current year and four times from 2005-06, Modi said: “The fiscal deficit will be restricted to only 2.89 percent of the gross state domestic product (GSDP) during the coming financial year against the target of three percent.”

The state plan during 2008-09 has been increased to Rs.13,500 crore (Rs.135 billion), up by 32.35 percent from the current fiscal.

Among the non-plan outlays for major sectors, those for education, health and repair of roads have been increased by 15 percent, 25 percent and 12 percent to Rs.5,267 crore (Rs.52.67 billion), Rs.1,278 crore (Rs.12.78 billion) and Rs.435 crore (Rs.4.35 billion) respectively, he said.

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