Patna: Deputy CM Tarkishore Prasad has pressed a special assistance center to the state, in addition to relaxation in the rules to help collect money through market loans to carry out developments that have been achieved for the last 15 years.
Prasad, who is also the Finance Minister Bihar, made the two demands at the pre-budget consultative meeting with the State Minister of Finance for 2022-23 which was held by the Finance Minister Union Nirmala Sitharaman in Delhi on Thursday.
Bihar, at this time, was faced with a severe financial crisis, especially from the financial year of 2021-22, Prasad begged.
Prasad demanded that the center relax the rules for the state based on fiscal responsibility and budget management (FRBM) acting to have a fiscal deficit of up to 5% against mandatory 3%, and also remove conditions that capture efforts to raise money through the market through the market through the market through the market through the market through the market.
Loans from financial institutions.
Additional resources are needed to maintain a high growth rate, increase development expenditure and maintain momentum to increase the capital expenditure needed to create new assets, Prasad said.
Presenting the Factual Position of the State, Prasad noted with concerns that Covid pandemics, along with increased expenditure on the cost of establishing and expenditure carried out other (such as retirement, etc.), increased expenditure to meet the crisis created by floods and droughts every year, besides cutting Funds made by the center themselves in various schemes supported centrally since 2018-19, have presented “serious financial challenges” for the country during the current financial years and come.
Apart from the increase in revenue revenue for the past 15 years, more than 50% of the total revenue revenue in any financial year came from a collection of central tax and other grants and also by means of central funds related to the scheme supported by centrally, Prasad said To the Minister of Finance Union in the memorandum submitted to him.
However, the cutting conducted by the center in the funds intended for centrally supported schemes and highly shedding in this scheme has placed additional burdens in the country, because the government must meet costs, such as Samagra Shiksha Abhiyan, payment of salaries to teachers in accordance With the 7th Payment Commission, among others, from its own resources, said Prasad, added that they have spent state resources for developmental and capital expenditure activities.
Mention the Niti Aayog report where Bihar’s performance has been placed below the national average and is also unsatisfactory compared to other states, Prasad said the state, indeed, remains backward despite the high growth rate and achievement made in the development of roads, power and others Infrastructure activities and special assistance is needed.