Bihar will generate surplus revenue in 2024-2025 fiscal: Dy CM

PATNA: Bihar Deputy Chief Minister Samrat Choudhary on Monday asserted that the state will generate surplus revenue in the 2024-2025 fiscal on the back of the NDA government’s policy initiatives.

Choudhary, who holds the finance portfolio, said Bihar is committed to the path of fiscal consolidation.

“The economic activities in the state have increased significantly in recent years. The policy initiatives taken by the NDA government will certainly generate surplus revenue in the coming financial year,” he said in the assembly, participating in the debate on Bihar budget.

“The state's finances are in good shape, with the growth rate at 10.64 per cent, the highest in the country. We succeeded in pulling out 2.5 crore people from the clutches of poverty in the current financial year. The budget estimate for the next fiscal is Rs 2,78,725.72 crore, an increase of Rs 16,840 crore compared to this year,” Choudhary said.

He concluded the debate amid a ruckus by members of the opposition, who later staged a walkout. The budget was presented by Choudhary in the assembly on February 13.

Earlier, taking part in the discussion, CPI (ML) Liberation MLA Ajit Kushwaha alleged that the state budget for 2024-2025 was misleading and unrealistic.

“It did not talk about any new welfare schemes for the poor or socially marginalised people. It also made no mention of government steps for creation of employment opportunities,” he said.

However, senior BJP leader and former finance minister Tarkishore Prasad asserted that a significant part of the state government’s revenue expenditure will be on social services.

“This shows the commitment of the NDA government for the social and economic growth of Bihar,” he said.