Despite revenue growth, state’s budget may not see substantial hike for next fiscal
PATNA: Despite the country’s economy showing signs of recovery with revenue generation improving in the current year, giving much of a breather to states in terms of higher central devolutions amid Covid pandemic, Bihar’s next year’s budget for the fiscal year 2022-23 may not see a substantial hike in terms of total budget size, officials said.
According to people aware of the development, the budget size for the next fiscal year 2022-23 would be more or less the same as this fiscal year standing at ₹2.18 lakh crore, though it might be tweaked a bit depending much on the last six installments of central devolutions in next three months and figures of state’s internal revenue.
“ Though there has been improvement in internal revenue this year from last year’s corresponding period, there is a big challenge of provisioning higher allocations owing to likely shortfall in central devolutions from state’s share in central taxes and grants,” said a state financial department person, aware of the development.
The finance department has already held series of meetings with all departments to assess the funds required for various development works and committed expenditure ( non-plan) in a bid to draw up the final budget size by end of December or early January 2022.
People aware of the development said that the state government has received ₹41,000 crore as state’s share in central taxes till November as against the projection of getting of ₹91,000 crore for the current fiscal year, 2021-22 ending March 2022.
The state’s share in central taxes comes in 14 installments with three installments given in the month of March. In terms of grants in aid from the Centre, the state has received a sum of ₹19,000 crore so far as against the projection of ₹54,531 crore. People aware of the development said the state’s internal revenue is hovering around ₹25,000 to Rs30,000 crore till November against the target of generating ₹40,000 crore.
Additional chief secretary ( ACS), finance S Siddharth, however, refused to comment on the likely budget size for the next fiscal year or about possibilities that the total budget size would remain same as the current year .
The ACS, finance also informed that there would be pre-budget consultations with various stakeholders and representatives from industry and other sectors as like previous years. “ Yes, we have had meetings with departments on budget,” he added.
Less time to read?
Try Quickreads
-
Jammu MC passes resolution to remove illegal loudspeakers from religious, public places
In a move aimed at reducing noise pollution and providing relief to people, especially students, ailing and the elderly, the Jammu municipal corporation on Tuesday passed a resolution for the removal of loudspeakers and public address systems operating without permission from religious and public places, evoking criticism from the rival Congress. Corporators from the Opposition stiffly opposed the decision and said that it will vitiate peaceful atmosphere of Jammu, known for brotherhood.
-
J&K: Two overground workers of LeT arrested in Budgam
Security forces on Tuesday arrested two overground workers of Lashkar-e-Taiba from Budgam district of Jammu and Kashmir, police said. “Police, along with security forces, have arrested two terrorist associates of proscribed terror outfit LeT in Budgam. Incriminating materials, explosives and ammunition were also recovered from their possession,” a police spokesman said.
-
Kashmir panchayat member goes the extra mile to implement government schemes
A 37-year-old panchayat member from north Kashmir's Narwav area, Mir Iqbal, is reputed to go the extra mile and not just figuratively, as he moves from village to village trying to solve people's problems and implement government schemes on the grassroots level. A post-graduate from Kashmir University, Iqbal, joined politics in 2011 as a young Congress worker. The Narwav block, spread over 56 square kilometres, comprises 17 panchayats.
-
Himachal: SDM offices to come up at Rakkar, Kotla Behar in Kangra
Himachal chief minister Jai Ram Thakur on Tuesday announced to open SDM offices at Rakkar and Kotla Behar and block development office at Dadasiba in Jaswan Pragpur assembly constituency in Kangra. He was addressing a public meeting at Pragpur after inaugurating and laying foundation stones of 39 development projects worth ₹190 crore. He slammed the Congress' decision of appointing four working presidents in a small state like Himachal Pradesh.
-
AAP slams Jai Ram govt over deteriorating education system; baseless allegations, says BJP
The Aam Aadmi Party, which is trying to make inroads into the bipolar politics in Himachal, on Tuesday announced that education and healthcare will be its main poll planks in the state assembly elections scheduled for later this year. AAP leader and Delhi education minister Manish Sisodia on Tuesday interacted with students and teachers to get the first-hand account of the education standards in Himachal Pradesh.
