Bihar included in the list of 6 leading states in terms of budget spending

• 14 Apr 2022

Why in News?

On April 12, 2022, Bihar State Planning Board Vice-Chairman Vijendra Yadav said that in terms of annual budget expenditure, Bihar has joined the list of 6 leading states by spending Rs 2 lakh crore in a year, setting a new record.

Key Points

• Bihar is ahead of 5 states in terms of annual budget expenditure. These include Uttar Pradesh, Maharashtra, Karnataka, Tamil Nadu and Gujarat.
• It is worth noting that all these states come under the category of already developed state, as well as they have the facility of industrialization as well as sea-port. Being a sea-port, transportation in the state becomes easy.
• At the same time, after the separation of Jharkhand, there has been a significant shortage of heavy industry in Bihar. So far this shortcoming has not been overcome.
• Vijendra Yadav said that before 2005, the state government could not spend even Rs 25,000 crore. The income was also limited to 4 digits, which has reached to Rs 56,000 crore at present.
• He informed that the state's GST collection has increased by 17% as compared to last year. Apart from this, there has also been an increase in registration tax by 107%, transport tax and mines and land element tax as compared to last year.