Patna, Dec 15 (UNI) Bihar has recorded a massive economic growth in the first two quarters of the current fiscal(2007-08), allowing the government to increase its planned and unplanned expenditures by nearly 16 and 45 per cent respectively.
Saying this on the concluding day of the brief winter session of the Assembly here yesterday, Deputy Chief Minister Sushil Kumar Modi, who also holds the Finance portfolio, spoke extensively on the state's financial parametres.
Claiming that a 'truly efficient fiscal management' by the finance ministry had enabled the state government to increase its own revenue collection by as high as 39.82 per cent to Rs 3136.59 crores from 2822 crores during the April-October last year, Mr Modi informed that as a result the overall budgetory expenditure under different heads had now been increased to Rs 11,990.46 crores from Rs 10,031.22 crores.
While elaborating on the matter, he said that during the same period the central allocation to the state plan had also been increased by a healthy 40.27 per cent to Rs 8889.10 crore. During the corresponding period of last year the amount was pegged at only Rs 2652.45 crores.
About the state's 'unprecedented' 44.96 per cent growth in unplanned expenditure to Rs 8390.62 crores, the Finance minister said last year the amount was only Rs 6473.32 crores, which was only 44.96 per cent of the total budget allocation.
He said that out of the total sum,the maximum Rs 573 crores was being spent for providing relief to millions of flood affected people, while over Rs 250 crores each was being allocated for improving the scenario in health,education sectors and in providing drinking water facility to every villager across Bihar.
Moreover, Mr Modi said, substantial amount was being spent for the improvement of infrastructure by building new roads and repairing and widening of old ones and for setting up power stations besides modernising the state police force and other law enforcing agencies so that their benefits could reach all sections of the society.
Claiming further improvement in the collection of sales and other taxes in Bihar this year,Mr Modi informed that compared to the corresponding period of last year,this year the collection was up by 24.33 per cent to Rs 1326.57 crores which was 36.34 per cent of the total revenue generation in the state so far.
Among other sectors which witnessed considerable growth in terms of revenue collection, Mr Modi said toll taxes amounting to Rs 256.33 crores collected by the state transport department from different highways, was the highest recording an unprecedented 45.14 per cent growth during the first two quarters of this fiscal.
All these had brought Bihar back on the path of a steady economic progress, the Deputy Cheif minister said and exuded confidence that with efficient fiscal management by the ruling NDA the trend would continue unabated during the coming months too.