Winning the hearts of youth, providing better health is the first Bihar budget of Grand Alliance Patna News
Keeping the fiscal deficit within the mandated 3% of gross state domestic product (GSDP), as set by the Fiscal Responsibility and Budget Management (FRBM) Act, he budgeted 10 per cent for 2022-23 at Rs 2.37 lakh crore announced an increase of ,
Government will give 10 lakh jobs to the youth: FFinance Minister Vijay Kumar Chowdhary
Moreover, Chowdhury did not announce any new taxes nor did he announce any new scheme to increase the state’s own revenue receipts. “Like in the past, the government has practiced effective fiscal management in line with the FRBM Act,” Chowdhury said after presenting the budget.
“Government has already taken necessary steps to address the pressing concerns of the youth for employment and work opportunities. We are on the way to provide 10 lakh government jobs and to create skilled and equal number of work opportunities. We have also set up a strong mechanism for entrepreneurial youth, among others, as promised by CM Nitish Kumar,” he said, adding that necessary financial allocations have been made for various departments in the 2023-24 budget.
Choudhary said empowerment of women, providing government jobs and creating work opportunities for the youth, who constitute 32 per cent of the state’s population, remains the guiding vision.
He said that the state budget for 2022-23 was pegged at Rs 2.37 lakh crore, the fiscal deficit for the 2023-24 budget at 2.98 per cent of GSDP is estimated at Rs 8.58 lakh crore and has been calculated by the Planning and Development Department.
Annual plan expenditure has been kept the same as 2022-23 financial year at Rs 1 lakh crore, but establishment and committed expenditure in the new budget is Rs 1.60 lakh crore – a little over Rs 24,000 crore compared to Rs 1.37 lakh crore in 2022-23.
In addition, Chowdhury said the 2023-24 budgeted revenue surplus, valued at Rs 4,478.97 crore, would be used for investment in physical infrastructure such as roads, buildings, electricity, schools, health centers and irrigation schemes. The producer will create capital assets. Other.
Revenue surplus is the amount that is obtained after deducting revenue expenditure from revenue receipts, and the revenue surplus of Rs 4,478.97 crore is 0.52 per cent of GSDP.
While the total revenue receipts have been placed at Rs 2.12 lakh crore, this includes
