Bihar govt presents Rs 3.47 lakh cr budgets, projects FY'26 growth at 14.9 per cent

Patna, Feb 3 (PTI) The Nitish Kumar government on Tuesday presented a Rs 3.47 lakh crore budget, asserting that the state was making progress at a rapid pace and estimated growth rate for the current fiscal was an impressive 14.9 per cent.

Tabling the budget in the state assembly, Finance Minister Bijendra Yadav profusely thanked Prime Minister Narendra Modi for the Centre's generous help to Bihar and lauded Chief Minister Nitish Kumar’s “visionary” leadership that was focused on achieving an “inclusive growth”.

"The size of the budget for the year 2026-27 is Rs 3,47,589.78 crore, which is 30,694.74 crore more than 3,16,895.02 crore in 2025-26. Fiscal deficit is likely to be around Rs 39,400 crore, which is 2.99 per cent of the state's GDP," the minister told the House.

"On behalf of this House, I would like to thank PM Modi, under whose leadership the nation has been progressing at a steady pace. Bihar received many things in last year’s Union budget, which included new airports, a makhana board and other food processing units. The state has been among the fastest developing ones, with its growth rate for 2024-25 expected to be around 14.9 per cent," he said.

Turning towards the CM, Yadav showered encomiums on HIM for embodying "five virtues (paanch tattva) of 'imaan, gyaan, vigyaan, armaan and samman' (integrity, knowledge, a scientific temper, aspiration and self respect)", which were scripting the journey towards achieving "viksit (developed) Bihar" by making progress that was "samaveshi" (inclusive) and ensured growth with justice.

Kumar was also lauded by the minister for his thrust on empowerment of women, the most recent example of which was the Mukhyamantri Mahila Rozgar Yojana, rolled out ahead of the state assembly polls held in November last year.

"Altogether 1.56 crore women have received Rs 10,000 each, and those who have utilised the sum for setting up businesses will soon get another Rs 2 lakh," said Yadav, about the scheme that is said to have decisively clinched the deal in favour of the ruling NDA, which retained power with a brute majority.

According to the budget, the annual scheme outlay is stated to be around Rs 1.22 lakh crore, with the Rural Development Department getting a lion's share of 18.33 per cent, followed by Education (15.02), Health (8.21), Urban Development and Housing (7.77), Rural Works (7.29) and Social Welfare (6.86).

A sum of Rs 19,603.02 crore has been earmarked for the Scheduled Castes Special Component Plan, and Rs 1,648.41 crore for the Tribal sub-plan. The amount has been "earmarked under Minor Head so that it cannot be spent for any other purpose" except the benefit of the Scheduled Castes and Scheduled Tribes.

Additionally, a provision of Rs 13,202.38 crore has been made for the social welfare of SCs, STs, OBCs, most backward classes and the minorities.

The budget also asserted that the state’s finances were in good shape, as evident from the revenue deficit for 2024-25 remaining at 0.04 per cent GSDP, though the fiscal deficit was 4.16 per cent, "which is more than the prescribed condition limit of 3 per cent".

The minister also told the House that the government has set a target of doubling the state’s per capita income in the next five years and steps were being taken to attract "private investments worth Rs 5 lakh crore for rapid industrial development".

The state expected its own revenue, in the year 2026-27, to be Rs 75,202.98 crore, of which tax revenue shall account for Rs 65,800 crore. PTI PKD NAC SOM