Patna: Bihar's average economic growth rate in the past five years stood at 11.3 per cent, Deputy Chief Minister Sushil Kumar Modi said on Monday.
Quoting a report by the Central Statistical Organisation (CSO) on the basis of 2004-05 price base, Modi said the economic growth rate of Bihar over the past five years stood at 11.3 per cent and the same in 2011-12 is expected at 13.13 per cent.
Stating that Bihar has a huge potential in terms of economic growth, Modi, who also holds the additional charge of finance, said contrary to slow growth rate in some countries, the state has witnessed a consistent growth rate.
Sushil Kumar Modi said that the contrary to slow growth rate in some countries, the state has witnessed a consistent growth rate.
Talking to reporters after holding a meeting with the stakeholders ahead of the presentation of the budget, Modi said the state budget would be presented in the Assembly on February 24 for 2012-13 and the government would try to ensure its passage by end of March 31. He also told that he had received more than 100 suggestions on the budget for 2012-13 via e-mail and other medium.
Even the people of the state living in America, Britain and Germany have sent certain suggestions for the budget and "we will make effort to incorporate the suggestions in the process of preparation of the budget." Modi said the state's plan size for 2012-13 would be proposed at Rs 28,000 crore and the formality for obtaining the Planning Commission's approval on the subject would be completed in April.
The Deputy Chief Minister said that the state government will continue with presentation of gender budget, outcome budget and the budget for municipal bodies, urban and panchayati raj institutions during the next fiscal's budget.
He said that the plan size of the state may come down to around Rs. 28,805 crores this fiscal due to decline in the state's central taxes share, but the clear picture will emerge only by March 31, 2012.
The state's plan size for 2011-12 was earlier fixed at Rs 29,128 crores comprising the actual plan size of Rs. 24000 crores allocated by the Planning Commission and Rs. 5128 crores as additional provision, Modi said.
The Deputy Chief Minister also announced regular payment for panchayat school teachers from next financial year and said that the state government would remove all procedural delay in sanction of grant for the purpose.
The economic survey report of Bihar would be presented in the house on February 22.