Here, we are giving the complete study material of ‘Bihar Budget (2022-23) Highlights’ that will ease the journey of aspirants to crack the competitive examinations like BPSC and other state-level examinations.
Bihar State Budget (2022-23) Summary
The Finance Minister of Bihar Mr Tarakishore Prasad had presented the Budget for Bihar for the financial year 2022-23. The 2022-23 budget amount is Rs 2,37,691.19 crore (more than Rs. 19,388.19 crores of FY 2021-22) which makes it the biggest budget in the history of Bihar.
Constitutional Provision of Budget for State:
- As per Article 202 of the Constitution of India, the Governor of a State shall cause to be laid before the House or Houses of the Legislature of the State a statement of the estimated receipts and expenditure of the State for a financial year.
- This estimated statement of receipt and expenditure for a financial year named in the Constitution as the “Annual Financial Statement” is usually referred to as “Budget”.
Key Terms Used in Budget:
Revenue which includes:
- Revenue Receipt
- Revenue Expenditure
- The receipts received can’t be recovered by the government.
- It comprises income amassed by the Govt. through taxes and non-tax sources like dividends on investments and interest.
- These are the expenditure incurred by the State Government for purposes other than for the creation of physical or financial assets.
- It includes those expenditures incurred for the usual functioning of the government departments, grants given to state government includes borrowings from the Reserve Bank of India and commercial banks and other financial institutions.
- It also consists of loans received from foreign governments and world organizations and repayment of loans granted by the Union government.
The capital which includes:
- Capital Receipt
- Capital Expenditure
Capital Receipt: These are the receipts that generate liability or decrease the financial assets of the government which
- It is the spending incurred by the government which results in the formation of physical or financial possessions of the Union government or a decrease in financial liabilities of the Union Government.
- It will contain expenditure on procuring land, equipment, infrastructure, expenditure in shares.
- It also includes mortgages by the Union government to Public Sector Undertakings, state and union territories government and interest payments on the debt of the Union Government, etc.
Direct Tax: These are the taxes that are imposed directly on individuals and companies. It comprises
- Income tax
- Corporation tax
Indirect Tax: These are the axes that are imposed on goods and services. It comprises taxes like
- Service tax
- Excise taxes
- Customs duties
Fiscal Policy: Fiscal policy is the means by which a government adjusts its expenditure levels and tax rates to watch and influence a country’s economy.
Revenue Deficit: It is the extra expenditure of the government over revenue receipts.
Fiscal Deficit: It is the difference between the total expenditure of the government and its total receipts, which is not including the borrowing.
Primary Deficit: Primary deficit refers to the difference between the present year's fiscal deficit and interest payment on previous borrowings.
Non-Tax Revenue: These are the government revenue not generated from taxes.
Gross Domestic Product (GDP):
- It is the price value of all finished goods and services made within a country during a specific period.
- It provides a snapshot of a country, used to estimate the size of an economy and growth rate.
Highlights of the Budget
Gross State Domestic Product:
- The fiscal deficit for FY23 is estimated at Rs 25,885.10 crore.
- It is 3.47 % of the estimated Gross State Domestic Product (GSDP).
- There is a modest increase of Rs. 4747.84 crore or 0.64 % over FY22 Budget size
- Rs 1,91,956.67 crore as revenue expenditure while Rs 45,734.52 crore is capital account.
- The total receipts are estimated at Rs 2,37,891.94 lakh crore, which includes
- Rs 1,96,704.51 crore by way of revenue receipts and
- Rs 91,180.60 would be the state’s share in central taxes
- Rs 41,187.43 crore by way of capital receipts.
- Rs 41,387.00 crores for the government’s own tax revenue.
- It is estimated to be Rs. 69353.37 crore.
New Scheme / Policy in Budget 2022-2023
- Saat Nishchay Scheme- Under this scheme, the state government will emphasize upon social welfare, public health, women security, employment generation etc. The major achievements should be-
- आर्थिक हल, युवाओ को बल
- आरक्षित रोजगार, महिलाओं का अधिकार
- हर घर नल का जल
- घर तक पक्की गलियाँ, नालियाँ
- सौचालय निर्माण- घर का सम्मान
- अवसर बढें, आगे बढें
- Nishchay- 2 Scheme under Good Governance in Bihar- The budget allocation for FY 2022-23 should be Rs.5000 crore. The major aim should be
- युवा शक्ति, बिहार की प्रगति
- सशक्त महिला, सक्षम महिला
- हर खेत तक सिंचाई का पानी
- स्वच्छ गाँव- समृद्ध गाँव
- स्वच्छ शहर- विकसित शहर
- सुलभ संपर्कता
- सबके लिए अतिरिक्त स्वास्थ्य सुविधा
Agriculture and allied activities:
- Agriculture and Allied Activities (in 2022-23): Total of Rs. 3584.31 crores have been allocated for agricultural development. Rs. 600 crore has been proposed to implement Har Khet tak Sinchayi ka pani across the state.
- Rs. 11475.97 crores are proposed for the Energy Department.
- Rs. 4310.57 crores have been allocated for the Water Resources Department.
- Rs. 1589.69 crores have been allocated for Animal and Fisheries resources.
- Rs. 1286.31 crores for Cooperative Department.
Medical and Health Infrastructure:
- Rs. 2380.38 crores have been allocated for Public Health Services.
- Rs. 7035.56 crores for health schemes.
- Rs. 39191.87 crores have been allocated for the establishment of the Skill Development and Entrepreneurship Department along with Medical and Engineering Universities in Bihar.
- The Centre of Excellence will be established in all ITIs.
- Total budget allocation- Rs. 662.84 crore.
Manufacturing/ Industrial Sector:
- The total budget allocation will be Rs. 1643.74 which is more than Rs. 358.57 crore last year.
Rural and Urban Development:
- Total budget allocation- Rs. 23632.41 crore.
Health and Family Welfare:
- The government has allocated Rs. 7035.56 crore for Public Health Services.
Social Security and Welfare:
- For the betterment of Old and Elderly people in the state, Rs. 68.66 crore has been allocated for the Social Welfare department.
- Total Budget allocation for Social Welfare department- Rs. 8201.12 crore.
- Total Budget allocation for BC and EBC welfare department- Rs. 1873.86 crore.
- Total Budget allocation for SC and ST welfare department- Rs. 1729.60 crore.
- Total Budget allocation for minority welfare department- Rs.570.49 crore
- Rs. 947.30 crores have been allocated under the Nishchay-2 scheme.
- The total budget allocation will be Rs. 1643.74 crore for Art, Culture and Youth Department.
- Rs.9801.41 crores have been allocated for the Panchayati Raj department.
Some Important Questions:
- The size of Bihar Budget 2022-223 is?
Ans. Rs 2,37,691.19 crores.
2. What is the budget allocation for national animal management is?
Ans. 200.00 crores.
- What is the budget allocation for Tourism Development Scheme?
Ans. Rs. 133.50 crores.
4. The budget allocation for Chief Minister Village Transport Scheme is?
Ans. Rs. 105.00 crores.
Most Important Study Notes
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