Bihar Finance Minister Abdul Bari Siddiqui on 24 February 2016 presented the Annual State Budget 2016-17 in the legislative assembly. The size of the budget is 144696 crore rupees, which is 24010.95 crore more than the annual budget for 2015-16.
No new tax proposals were introduced. The focus of the budget encompassed almost all sectors and sections like education, energy, health, and road construction.
While presenting the state budget, the finance minister said that the budget lays special emphasis on Chief Minister Nitish Kumar’s election promises of fulfilling seven resolutions (Saat Nischay).
• 21897.02 crore rupees was allocated for education (10950 crore rupees and 10947 crore rupees, as planned and non-planned budget, respectively).
• 14367.84 crore rupees was allocated for the energy sector (9658 crore rupees and 4709 crore rupees, as planned and non-planned budget, respectively). This was done with an aim to assure electricity connection to every household in the state.
• 5954 crore rupees was allocated for road construction and development
• 8234.70 crore crore rupees was allocated for health
• Beside, setting three new medical colleges which would be set up at Chapra, Samastipur and Purnea as per the approval of Union Government, five medical colleges would be set up in the state, each having a nursing college.
• Unemployment allowance of 1000 rupees per month for two years will be provided to youths aged between 20 and 25. The allowance will be provided to help them in their search of jobs.
• Student credit card will be provided to students who have passed 10+2 exams. The credit card will enable them to get education loan of up to 4 lakh rupees for pursuing higher education.
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When: 24 February 2016