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Though the Bihar government managed to reduce its fiscal deficit by 3 per cent in 2018-19 versus 2017-18, it did not meet the target, according to the Comptroller Auditor General of India. The CAG, which released its report on the State’s finances on Tuesday, noted that fiscal deficit of Bihar decreased from ₹14,305 crore in 2017-18 to ₹13,807 crore in 2018-19 but was higher than the Budget Estimate (₹2,603 crore).
“The State has achieved the target of fiscal deficit and revenue surplus but not the ratio of outstanding debt to GSDP as envisaged in XIV FC and Mid-term fiscal policy under BFRBM Act. Further, the State has achieved the target of ratio of outstanding debt to GSDP with respect to budget estimates of 2018-19 but not of revenue surplus and fiscal deficit,” it added in its statement.
During 2018-19, the fiscal deficit and primary deficit decreased by three per cent and 29 per cent, respectively, compared to 2017-18, it added.
“The ratio of development expenditure, social sector expenditure, and education services expenditure to aggregate expenditure was higher than the average for the General Category States. However, the share of the economic sector expenditure in aggregate expenditure dropped in 2018-19 over the five year period, while the share of health to aggregate expenditure was less than the average for General Category States,” the CAG statement added.
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