PATNA: The Bihar government could spend only 77.95% of the total budget during the financial year 2022–23 as the state surrendered an amount of Rs 20,526.71 crore. It was revealed in the state finances audit report of the CAG for the financial year ending March 31, 2023, presented in the state legislature on Thursday.
According to the report, the state could spend a sum of only Rs 2,35,176.84 crore, whereas the total budget of the state was Rs 3,01,686.46 crore for the financial year 2022–23.
The state surrendered a sum of Rs 20,526.71 crore (30.86%) of the total savings of Rs 66,509.62 crore. Similarly, the state government could not achieve the ratios of revenue surplus and fiscal deficit to GSDP, fixed by the 15th Finance Commission and set out in the budget estimates.
Revenue deficit of the state increased from Rs 422.38 crore to Rs 11,288.20 crore over the previous financial year. The fiscal deficit increased from Rs 25,551.26 crore in 2021–22 to Rs 44,823.30 crore in 2022–23 and was 5.97% of GSDP.
Revenue expenditure increased from Rs 1,24,897 crore (23.66% of GSDP) in 2018–19 to Rs 1,83,976 crore (24.48% of GSDP) in 2022–23. It was consistently a significant portion (84.57 to 90.67%) of the total expenditure and grew at an average annual rate of 12.60%.
On the other hand, capital expenditure, as a percentage of GSDP, ranged from 2.11% to 4.19% during the period of the last five years. It has increased by 0.55% over the previous financial year.
Similarly, committed expenditure on interest payments, salaries and pensions constituted 34.30 to 38.66% of revenue expenditure during the period of 2018–19 (36.85%) to 2022–2023 (34.30%). The committed expenditure increased at an average rate of 9.0% -- from Rs 46,021.46 crore in 2018–19 to Rs 63,107.43 crore in 2022–23.
As of March 31, 2023, there were 76 state public sector enterprises (SPSEs), including three statutory corporations, 69 government companies (including 39 inactive government companies) and four government controlled other Companies, under the audit jurisdiction of CAG.
During 2022–23, 15 working SPSEs incurred losses of Rs 2,847.74 crore and their accumulated losses were Rs 26,991.90 crore up to 2022–23.
Capital expenditure
Capital expenditure, as a percentage of GSDP, ranged from 2.11% to 4.19% during the period of the last five years. It has increased by 0.55% over the previous financial year.
Similarly, committed expenditure on interest payments, salaries, and pensions constituted 34.30 to 38.66% of revenue expenditure during the period of 2018–19 (36.85%) to 2022–2023 (34.30%).