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Rs 5.38 billion deficit budget in Bihar

The Bihar government today presented a tax-free Rs 5.38 billion deficit budget for 1998-99 in the state legislature.

Presenting the budget proposals, state Finance Minister Shankar Prasad Tekriwal said a total revenue and capital receipts of Rs 146.61 billion had been proposed as against the estimated revenue and capital expenditure of Rs 165.33 billion during the year.

He said a net deficit of Rs 5.68 billion had been estimated in the budget for 1997-98. However, a savings of Rs 3.90 billion was estimated in the revised estimate, the finance minister said.

After adjusting these savings with the public accounts, the net deficit was estimated to be Rs 2.77 billion.

UNI

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