Bihar Chief Minister Nitish Kumar today lauded the revenue suplus budget presented by his deputy Sushil Kumar Modi and said that it will boost development and economic growth rate in the state.
"The budget is a balanced and practical one that will boost development and growth rate in the next year," he told reporters.
The projected higher revenue receipt, particular that from tax sources from the state alone, will increase income and resources at the disposal of the state government for channelizing the same for development and welfare measures, the Chief Minister said.
The receipts from the plan outlay, central grants and other resources filling the state exchequer was a realistic one, he said and lauded the Deputy Chief Minister for showcasing sound fiscal management in budget presentation.
On the tax hike issue on various products, the chief minister said the measure was necessary to augment income, but will have insignificant or marginal impact on the price rise.
However, the opposition RJD and Congress trashed the budget saying that the higher receipt and revenue surplus shown by the state government appeared to be a 'web of statistics.'
Describing the budget at directionless, the state unit Congress chief Chaudhary Mehboob Ali Kaiser and the legislature party leader Sadanand Singh said that the state government has contradicted its own claim of a healthy financial condition and 11.95 per cent growth rate by conceding that it was going to take loans to the tune of
Rs. 12,000 crore to match receipts against expenditure.
The Leader of Opposition in the state assembly and senior RJD leader Abdul Bari Siddique slammed the budget saying that the interests of the poor and downtrodden have been neglected in so-called 'revenue surplus' budget.
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