In her eighth Union Budget presentation on February 1, Finance Minister Nirmala Sitharaman unveiled several initiatives aimed at boosting Bihar’s economy, agriculture, and infrastructure. Here’s a simplified breakdown of the key announcements:
1. National Institute of Food Technology, Entrepreneurship, and Management in Bihar
The government plans to establish a National Institute of Food Technology, Entrepreneurship, and Management in Bihar to boost food processing in the eastern region. This initiative aims to increase farmer incomes by adding value to agricultural produce and create skilling, entrepreneurship, and employment opportunities for the region’s youth.
2. Makhana Board for Bihar
A Makhana Board will be set up in Bihar to enhance the production, processing, value addition, and marketing of Makhana, a traditional crop. This initiative aims to boost the state’s agricultural economy and create growth opportunities for farmers and businesses.
3. Expansion of IIT Patna
The Indian Institute of Technology (IIT) in Patna will expand as part of a nationwide plan to enhance IITs, adding infrastructure to accommodate 6,500 more students. This expansion aims to support growing educational needs and improve facilities.
4. Western Kosi Canal ERM Project
The Western Kosi Canal ERM project will help farmers in Bihar’s Mithila region by enabling the cultivation of over 50,000 hectares of land. This initiative is expected to greatly enhance agricultural productivity in the area.
5. New Airports and Airport Expansion
New greenfield airports will be established in Bihar, while Bihta will get a brownfield airport. Additionally, Patna airport will be expanded to handle increased traffic and improve connectivity in the region.
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Finance Minister’s Vision for Bihar and India:
On Economic Growth:
“Our economy is the fastest-growing among all major global economies. Our development track record of the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period. We see the next five years as a unique opportunity to realise ‘Sabka Vikas’, stimulating balanced growth of all regions,” said the Finance Minister.
On Private Sector Investments:
“Budget aims to invigorate private sector investments, uplift household sentiments, and bolster power of India’s rising middle class,” she added.
Bihar’s Demands and Previous Allocations
Before the Budget, Bihar’s Deputy Chief Minister Samrat Choudhary submitted a 32-page memorandum to the Finance Minister, requesting various developmental initiatives for the state’s growth and infrastructure improvement.
- Rs 13,000 crore for flood management in North Bihar.
- Upgradation of Darbhanga Airport and new airports in Rajgir and Bhagalpur.
- Funds for Raxaul Airport, 10 new Kendriya Vidyalayas, and a 1% relaxation in Gross State Domestic Product for additional borrowing.
- Approval for a small modular nuclear reactor and high-speed corridors.
Previous Budget Allocation
The Union Budget 2024-25 had allocated Rs 59,000 crore for road connectivity, power, and flood management in Bihar. However, Chief Minister Nitish Kumar reiterated the demand for special category status (SCS) or a special package for the state.
Written By Fazal Ul Vahab C H
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