Education gets the lion’s share
It is a budget to add pace to Bihar’s inclusive growth story and take development to the next stage. TARKISHORE PRASAD, deputy CM and finance minister
PATNA: Bihar’s deputy chief minister Tarkishore Prasad, who also holds the finance portfolio, on Monday presented a budget of ₹2,18,302.70 crore for the financial year 2021-22, which is ₹6,541.21 crore more than ₹2,11,761.49-crore budget for the current financial year, and focusses on youth, women, agriculture, rural development, technical & skill education and entrepreneurship development.
Presenting his maiden budget, Prasad said the budget has made a separate allocation of ₹4,671 crore for the Bihar government’s Seven Resolves (Part-2) and promised creation of over 20 lakh job opportunities and development of skill centres and training institutes. In the 2020 Assembly elections, joblessness had emerged as a big issue.
“It is a budget to add pace to Bihar’s inclusive growth story and take development to the next stage. In the year 2020-21, the expected crisis due to Covid-19 pandemic put the world economy under strain and Bihar was no exception. However, the way Bihar responded to the challenge at multiple levels despite its limited resources has resulted in barely around 536 active cases today, though
we still need to maintain utmost precaution,” he said.
This estimated budget expenditure includes establishment & committed expenditure of ₹1,17,783.84 crore, which is ₹11,788.70 crore more than the last budget. The scheme expenditure is estimated at ₹100,518.86 crore, with the lion’s share of 21.94% going to education, followed by 16.78% to rural development, 7.31% to rural works department, 8.19% to social welfare and 6.93% to the health department.
Prasad said that with focus on skill and entrepreneurship development, a new department would be set up. “It will include industrial training institutes and polytechnics and also incorporate entrepreneurship in the curriculum. Mega skill centres will be set up in every district. The youth will be encouraged to start their own enterprise and women will be given interest-free loans of up to Rs 5 lakh or 50% of the project cost. A sum of ₹200 crore has been earmarked for the purpose,” he said.
The deputy CM said the survey for the government’s resolve to ensure water to every farm in the next five years has been completed and a sum of Rs 550 crore has been added for this purpose in the budgetary allocation.
Some experts are of the view that the government would find it hard to match estimated budgetary target, as it would depend heavily on fiscal situation and intent of the Centre. “The situation could be even worse during 2020-21, when India was hit by Covid-19 pandemic. The numbers need to be seen with caution,” said an expert, wishing anonymity.