February 28, 2017 1:24:07 am
Bihar finance minister Abdul Bari Siddiqui on Monday presented the 2017-18 budget of Rs 1,60,085 crore, Rs 15,389 crore more than previous budget.
The state has given the top priority to education by earmarking 17.58 per cent of total budgetary allocation, followed by rural development (12.02 per cent) and rural works (10.53 per cent) and energy (8.40 per cent) and road construction (7.05 per cent). No new tax has been imposed.
Presenting the budget with revenue surplus of Rs 12,507 crore in the Legislative Assembly, Siddiqui said that fiscal deficit was 2.48 per cent of gross state domestic product (GSDP).
Debt and outstanding liability was 23.97 per cent of GSDP, which is under permissible limit of 25 per cent, added the finance minister. “The state’s tax revenue is estimated at Rs 32,001.12 crore in 2017, Rs 2,270.85 crore more than 2016-17. Non-tax revenue is estimated at Rs 2,874.96 crore, which is Rs 516 crore more than last year. State’s share in central taxes is estimated at Rs 65,326.34 crore in 2017-18, which is Rs 6,966.62 crore more than last time”.
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