Indicating the robust financial condition of Bihar, the JD(U) government today presented a tax surplus interim budget for 2014-15 for the state by proposing nearly 27 per cent increase in total receipts at Rs 1,16,882.77 lakh crore for the next fiscal.
Presenting the interim budget for 2014-15 in the assembly amid ruckus created by the BJP members throughout his half an-hour speech, the Water Resources Department (WRD) Minister Vijay Kumar Chaudhary said about 27 per cent increase in the total receipts from last fiscal pointed to an improved financial situation of Bihar.
Chaudhary read out the salient features of the interim Budget for 2014-15 before taking the Speaker’s permission to lay the copy of the budget in the house, saying that the ruckus created by the opposition BJP members was making it difficult for other members to hear his speech.
In his Budget speech and interaction with the reporters soon after, Chaudhary said the state government has been able to raise the total receipt figure at Rs 1,16,682 lakh crore for next fiscal by attaining nearly 48 per cent increase in the plan expenditure at Rs 57,655 crore as against Rs 39,006 crore in the last fiscal.
While a staggering increase in the Plan expenditure has been proposed for next fiscal, there will be a moderate jump in non-plan expenditure by Rs 6,150 crore at Rs 59,231 crore as against Rs 53,081 crore last year, he said.
The increased allocation for Plan and non-Plan expenditure of the state government for 2014-15 was a pointer to the fact that there has been significant rise in revenue receipt both tax and non-tax sources, the Minister said.
The state government will put to judicious use the increased allocation under plan head to undertake development works in the state in the next financial year, he said.
State’s own tax revenue has witnessed 22.42 per cent rise at Rs 25,662 crore in the next fiscal as against Rs 20,962.70 crore in 2013-14. He said the state government has been able to contain the fiscal deficit of the gross state domestic product at 2.96 per cent for next year, which was well within the limit of three per cent proposed under the FRBM Act.
In all, the Budget for 2014-15 has been estimated to be a revenue surplus by Rs 10,174.03 crore, the Minister said.
On the sector-wise allocation of funds, education sector has been allocated with Rs 24,715 crore — an increase by about 35 per cent — of which Rs 12,457 crore will be spent under non-Plan head, while the remaining amount for Plan.
On new schemes/projects proposed by the state government, Chaudhary said a new Rs 32.76-crore scheme has been launched for providing napkin packs to the girl students in schools from April 1.
The Finance Minister in-charge said that he will table a vote-on-account, later this week, to take sanction of the house to draw funds from the treasury for expenditure to be incurred by the state government over the next four months till June this year, during which the country will go through the general elections.