Bihar government presented ₹ 2.79 lakh crore budget for 2024-25
Team Current Hunt
Bihar Deputy CM and Finance Minister Samrat Chaudhary presented the ₹ 2.79 lakh crore budget for 2024-25 in the State Assembly.
In FY 2023-24, Bihar registered a growth rate of 10.64% and 2.5 crore people came out of poverty in the state.
The budget has put maximum focus on education, rural development, social welfare, rural works, and the health sector.
The budget expenditure has been increased from ₹2,61,885.40 crore to ₹2,78,725.72 crore for the financial year 2024-25.
In 2024-25, the fiscal deficit is likely to be 2.98% of the GDP.
Bihar is one of those States that has implemented the FRBM Act seriously.
The Gross State Domestic Production (GSDP) of Bihar is estimated to grow by 15.5% to Rs 7.5 lakh crore.
For the fiscal year 2022-23, the per capita income of the State is estimated to be ₹59,637 per annum at current prices. The per capita income in 2018-19 was ₹44,451.
The real per capita income of the state is estimated to grow by 9.0 per cent in 2022-23 to reach Rs 35,119.
The real GSDP is estimated to grow by 10.6% to Rs 4.4 lakh crore in 2022-23.
The CD (Credit-Deposit) ratio of Banks in the State has also improved to 55.6% as of March 31 2023, as compared to 53% in the previous year.
The share of the tertiary sector in the gross value of the state economy is estimated to be 60%. The share of the primary and secondary sectors will be 20% each in the 2022-23.
The value added by the primary, secondary, and tertiary sectors is estimated to increase by 6.7%, 6.8%, and 13%, respectively.
