Patna: Deputy Chief Minister and Finance Minister Samrat Chaudhary will present the budget for the fiscal year 2024-25 in both houses of the legislature on Tuesday. This marks his inaugural budget since assuming the role of Finance Minister. The budget is anticipated to increase significantly, possibly reaching three lakh crore rupees. The main focus of the budget will revolve around Chief Minister Nitish Kumar’s ambitious Seven Resolves Part-2 plan, with emphasis on employment, education, and skill development. The education department’s budget may see an increase due to the commitment to provide jobs for two lakh teachers. Additionally, the budget for the industry department may also witness a boost.
Approximately three lakh crore rupees expected for Bihar’s budget
According to sources within the cabinet, the budget for 2024-25 is estimated to be around three lakh crore rupees. The upcoming budget prioritizes employment, education, and skill development. The majority of the budget is allocated to these sectors.
Focus on increasing Bihar’s revenue
Samrat Chaudhary stated that a specific strategy will be devised to boost the state’s revenue. The current fiscal year’s budget is 2.61 lakh crore rupees, with a relatively lower state share. The state is heavily dependent on central taxes. Enhancing welfare schemes for the poor is a top priority. The preparation for the upcoming budget for the fiscal year 2024-25 is complete, with an emphasis on the well-being of all sections of society. The finance department will work towards better financial management in the future. Notably, Samrat is currently responsible for ten different departments, including finance.
Budget session to feature meaningful discussions in the Legislative Council
During the 206th session of the Legislative Council on Monday, President Devesh Chandra Thakur mentioned that meaningful discussions on various subjects related to state interests and development will take place in the proposed 11 committee meetings. He highlighted the initiation of a 72 crore rupees plan for the development of Sita’s birthplace Punaura Dham, expressing great satisfaction. Additionally, he acknowledged Prime Minister Narendra Modi’s gratitude for conferring the Bharat Ratna on former Chief Minister Jan Nayak Karpoori Thakur.
