On the first day of the budget session of the Bihar Legislative Assembly on Friday, the State Deputy Chief Minister and Finance Minister Tarkishore Prasad presented the Economic Survey 2020-21 report in the House. Claiming in this report, it has been said that Bihar’s growth rate is 10.5 percent at a constant price, which is higher than the national average. After presenting the Economic Survey, Finance Minister Tarkishore Prasad told the journalists that there are a total of 13 chapters in the Economic Survey. The initiative taken by the government during the corona has been included in a separate chapter.
Tarkishore said that Bihar’s gross domestic product was Rs 6 lakh 11 thousand 804 crores at the current price and Rs 4 lakh 14 thousand 977 crores at the constant price of 2011-12. Gross State Domestic Product per capita was 50 thousand 735 rupees at present price and 34 thousand 413 rupees at a constant price of 2011-12. During the last six years, the growth rate of road transport has increased from 4.4 percent to 5.9 percent and the growth of other services has increased from 10.5 percent to 13.8 percent. He said that the corona has definitely damaged the service sector, but due to the agrarian economy, there was no significant impact on the development of Bihar.
The Finance Minister claimed that the state has consistently shown financial prudence for more than a decade. He said that during the fiscal year 2019-20, the gross fiscal deficit in the percentage of gross state domestic product was two percent, and the surplus in revenue account remained. The primary deficit also decreased in 2019-20 compared to the previous year 2018-19.
Prasad said that the total receipts of the state government for the financial year 2019-20 was Rs 1,53,408 crore, which is higher than Rs 1,52,287 crore during the same period last year. He said that in the 2019-20 financial year the total revenue of the state government was Rs 1,23,533 crore and capital expenditure was Rs 20,080 crore. He said that the revenue share of total expenditure has increased from 74.4 percent in 2015-16 to 86 percent in 2019-20.