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Bihar govt presents Rs 2.18 lakh cr budget for FY22

Tuesday, 23 Feb 2021
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The Bihar government presented Rs 2.18 lakh crore budget for FY22, with no new tax and a thrust on infrastructure and social sectors. 
 
The budget is proposed to create a separate department for skill development and entrepreneurship. The decision will ensure better coordination for running ITIs and polytechnic colleges which are now run by the Labour Department and the Science and Technology Department respectively. 
 
The state government aims to create 20 lakh employment opportunities, in private and public sectors combined, by 2025, and for this a sum of Rs 200 crore has been allocated for the industries department. 
 
In a move to encourage entrepreneurship, grants will be given for startups which could be to the tune of 50 percent of one’s project cost or up to Rs five lakh in addition to loans of up to Rs five lakh at a nominal one percent interest rate. Women entrepreneurs will be given special incentives in the form of interest-free loans of up to Rs five lakh.
 
The highest allocation of Rs 38,035.93 crore has been made for education, followed by Rs 16,835.67 crore for rural development, Rs 15,227.74 crore for roads infrastructure, Rs 13,264.87 crore for health and Rs 8,560 crore for energy. 
 
An amount of Rs 250 crore has been allocated to build link roads in rural areas. A budget allocation of Rs 500 crore has been made for animal husbandry and fish farming. 
 
An allocation of Rs 4,671 crore has been made for the second phase of Saat Nischay programme. The promotion of entrepreneurship, enhancement of skill, improvement of irrigation facilities, strengthening of health infrastructure, better connectivity and development of clean and prosperous villages and cities are some of the components of the seven resolves. 
 
The state government has not imposed any new tax. The budget is Rs 6,541.21 crore more than the estimates of Rs 2,11,761.49 crore for FY21. The revenue surplus is estimated at Rs 9,195.90 crore. 
 
The budget includes proposals for setting up universities in medical, engineering and sports. Rajgir has been proposed as the site for the sports university besides an international cricket stadium and sports academy. 
 
Apart from this, solar street lights will be installed in village roads under Phase-II of Saat Nischay scheme for which Rs 150 crore has been allocated.
 
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