Bihar has no shortage of funds, says dy CM-cum- finance minister

The finance minister emphasised that state government takes loans as per the norms and it’s a routine process.

Deputy chief minister- cum- finance minister Bijendra Prasad Yadav on Friday told the state assembly that there was no dearth of funds in the state and there is no financial crisis, asserting that the state would continue its path of development with full vigour.

Bihar deputy CM-cum-finance minister Bijendra Prasad Yadav. (HT photo)

Yadav, while replying to allegations of leader of the opposition that the state had slipped into fiscal crisis due to rising loans and fund shortage in treasuries, said that there is no fund shortage in treasuries. He made the statement during the vote of confidence motion brought by Chief Minister Samrat Choudhary in the state assembly.

“The Opposition leader has made allegations that our treasuries are empty. This is absolutely wrong,” the deputy CM said.

The finance minister emphasised that state government takes loans as per the norms and it’s a routine process. “ There is nothing wrong if the government is taking loans. But it is done as per the norms and within the specific limit for which there are guidelines. There is RBI and other financial institutions. What are they for? But I must clarify Bihar has no shortage of funds and the development journey would continues without any obstacles,” the finance minister said.

Earlier, the Opposition leader in his speech during the vote of confidence motion said the state government had slipped into a financial crisis with no money left for even paying salary and pension to government employees. He said there were no doubts as to how the government would run development schemes without much funds available even for paying wages.

“We as the opposition would raise these questions. After all, we have the responsibility to do that as it concerns the state’s welfare,” the Opposition leader said, adding that the state had one of the lowest per capita income and the volume of debt had also increased over the years.