Bihar Budget 2018 tabled, no proposal for fresh taxes
Patna: The Nitish Kumar authorities on Tuesday introduced the Bihar Price range for 2018-19 with a projected expenditure of Rs 1.76 lakh crore and no proposal of recent taxes for the fiscal.
Deputy Chief Minister Sushil Modi, who tabled the Price range within the Legislative Meeting, mentioned, “Now we have introduced a Price range expenditure of Rs 1,76,990.27 crore for 2018-19, which is Rs 16,904.58 crore greater than the present 12 months Price range (2017-18).”
The state has the income surplus of Rs 21,311.74 crore throughout 2018-19, four.13 p.c of the Gross State Home Product (GSDP) which is estimated to be Rs 5,15,634 crore, he mentioned.
“The most important reduction for the widespread man is that the Price range doesn’t suggest any recent taxes,” he advised reporters right here.
Sushil Modi, who additionally holds the finance portfolio, learn out the 45-minute-long Price range speech amid slogan shouting by RJD members, led by Tejashwi Prasad Yadav, over the dying of 9 youngsters in a hit-and-run case allegedly involving a BJP employee.
The minister mentioned Bihar’s fiscal deficit has been estimated at Rs 11,203.95 crore within the Price range, 2.17 p.c of the GSDP projected at Rs 5,15,634.00 crore.
The state authorities has accorded prime priorities to schooling, street and power in addition to laying emphasis on 12 departments related to “agriculture roadmap”, corresponding to cooperatives, rural improvement, and so on, he mentioned.
The schooling sector received the very best allocation of Rs 32,125.64 crore on this 12 months’s Price range in opposition to an allocation of Rs 25,251.39 crore in 2017-18, he mentioned, including the state authorities intends to spend Rs 17,397 crore on street building.
The Price range additionally gave thrust on the power sector, with an allocation Rs 10,257.66 crore. The well being division’s share has been elevated to Rs 7,793.82 crore as in opposition to Rs 7,001.52 crore for the present monetary 12 months ending April.
Bihar authorities has set a goal of offering electrical energy to all households by December 2018, in addition to making a separate agriculture feeder for offering irrigation facility to each discipline by the tip of 2019, Sushil Modi mentioned.
The estimated income receipts of the state authorities have been pegged at Rs 1,58,051.41 crore in 2018-19, in contrast with Rs 1,37,158.41 crore within the present fiscal.
The income receipts embody the state’s share in Central taxes, grants-in-aid from the Central authorities, the state’s personal tax and non-tax income.
On Bihar’s share in Central taxes, he mentioned it’s estimated at Rs 76,172.37 crore in 2018-19 as in opposition to Rs 65,326.34 crore in 2017-18.
The grants-in-aid from the Centre to the state is pegged at Rs 46,431.12 crore within the fiscal 12 months 2019 in contrast with Rs 36,956.00 crore in 2017-18, the minister mentioned.
The excellent public debt is estimated at Rs 1,37,900.82 crore in 2018-19, amounting to 26.74 p.c of the GSDP, Sushil Modi added.