On the second day of the Bihar Legislative Assembly’s budget session, Deputy Chief Minister and Finance Minister Samrat Chaudhary presented the budget in the assembly for the first time. The budget, totaling a historic ₹2.78 lakh crore, marks the largest fiscal allocation in the state’s history. Education receives the highest allocation at 22%, followed by 13.84% for rural development under the non-plan expenditure category.
Historic Budget Unveiled
While presenting the budget, Finance Minister Samrat Chaudhary highlighted that this is the largest budget in the history of the state. Bihar’s economy has shown significant growth, with a 10.64% increase in the 2023-24 fiscal year, surpassing national and other state averages. He expressed pride in the fact that the state has witnessed more than a threefold increase in the size of the overall domestic product in the last decade.
Focus on Infrastructure in the Budget
The budget prioritizes sectors such as education, roads, health, and social welfare, with a special focus on infrastructure development. An emphasis on job creation in the IT sector is reflected in the implementation of Bihar IT Policy 2024, valid for five years. Additionally, the budget provides subsidies for tourism investments to promote tourism in the state, and the scope of smart meters is expanded.
Indoor Stadiums in Every Block
As part of the “Saat Nischay Phase 2” initiative, a provision of ₹5040 crore is allocated to be implemented across the state. The initiative aims to establish indoor stadiums in every block to boost sports. Furthermore, a subsidy of ₹700 crore is earmarked for the Student Credit Card program.
Allocation Details for Each Department
Finance Minister Samrat Chaudhary presented Bihar’s largest-ever budget, breaking down the allocation for each department.
