PATNA: The total size of Bihar budget in the next financial year, 2017-18, will be Rs 1.66 lakh crore—a significant increase of 17 percent as compared to the current fiscal.
The state Cabinet which met here last evening has approved the draft of the state budget to be presented in the Bihar assembly. The budget session of the assembly begins February 23.
Of the total money earmarked for the budget, Rs 80,000 crore will be used for plan head while the rest Rs 86,000 crore for the non-plan head.
The hike in state budget looks significant given the considerable financial loss to the state owing to the recommendations of the 14th Finance Commission and enforcement of total prohibition in the state.
Authorities said the state’s budget has seen six times increase in the past nine years—From Rs 32,795 crore budget in 2009 to Rs 1.66 lakh crore budget for the next fiscal.