Patna, In a significant fiscal move, the central interim budget has earmarked a substantial INR 75,000 crores for interest-free loans, out of which Bihar is set to receive approximately INR 7,500 crores. This financial provision is poised to catalyze extensive infrastructure development in the state.
The allocated loan, structured over a 50-year span, signifies a robust commitment towards Bihar’s growth. This long-term financial support is strategically intended to bolster foundational structures, providing a substantial boost to construction and infrastructure-related projects across the state.
For the financial years 2022-23 and 2023-24, Bihar has already received interest-free loans of INR 8,455 crores and INR 6,200 crores, respectively. The additional allocation of INR 7,500 crores from the central government in the upcoming fiscal year is expected to further fuel capital expenditure for key projects. This funding infusion will be directed towards essential initiatives, including road construction, building infrastructure, and the development of industrial areas.
Looking at the broader economic landscape, the central budget for the financial year 2024-25 reflects a substantial increase in capital expenditure. The budgetary allocation has risen by 11.1%, reaching an impressive figure of INR 11,11,111 crores. This represents 3.4% of the nation’s Gross Domestic Product (GDP), underscoring a comprehensive strategy to stimulate economic development and job creation in Bihar.
In a parallel development, the central budget discussions shed light on the potential establishment of Darbhanga AIIMS (All India Institutes of Medical Sciences). While the specific allocation for Darbhanga AIIMS is not explicitly detailed, the budget sets aside INR 6,800 crores for the establishment of new AIIMS institutions nationwide under the Prime Minister’s Health Security Scheme. The proposal for Darbhanga AIIMS has received cabinet approval, and the state government has already facilitated the allotment of land in Shobhan, Darbhanga district, for the ambitious medical institute.
This financial commitment reflects a concerted effort by the government to elevate healthcare infrastructure and contribute significantly to the overall development landscape in Bihar.