Patna: A revenue surplus budget of Rs 53,927
crore was today presented in the Bihar assembly by the deputy
chief minister Sushil Kumar Modi.
Presenting the budget Modi, who also holds the Finance
portfolio said the surlpus budget had been presented despite
an additional burden of Rs 5,000 crore due to implementation
of Sixth pay Commission recommendations and massive drought
and floods.
The reduction in state's share in Central taxes due to
economic slowdown too impacted the figures, Modi said.
The deputy CM told the House that "revenue surplus will
be used for investment in physical infrastructure and
generating productive capital assets like roads, buildings,
power, schools, health centres, irrigation and other schemes".
Bihar is one of the few states that had taken its fiscal
responsibility seriously and implemented the FRBM Act...we are
again likely to generate a revenue surplus and the fiscal
deficit is likely to be contained at 2.73 per cent of state
GDP (within the FRBM limit of 3 per cent), he added.
-PTI
First Published: Friday, February 26, 2010, 00:35