PATNA: Leader of Opposition in Bihar assembly Tejashwi Prasad Yadav on Wednesday asked whether Bihar was on the verge of going bankrupt after the state government withdrew money from the Bihar Contingency Fund to provide social security pension to people.
Sharpening his attack on the government, Tejashwi wrote on ‘X’, “Is Bihar on the brink of bankruptcy? Will the capitalist policies and anti-people decisions of the double-engine government lead to a situation of financial emergency? Bihar's financial crisis has become so severe that last Tuesday, Bihar cabinet approved the withdrawal of Rs 3,662 crore from the Bihar Contingency Fund to pay social security pensions for May, June, and July 2026.”
On Wednesday, Bihar chief minister Samrat Choudhary transferred Rs.1,100 each to the bank accounts of more than 94 lakh beneficiaries of various social security schemes to mark Narendra Modi setting the record of being the longest serving elected Prime Minister of the country.
The money was transferred to beneficiaries under six schemes.
Referring to financial condition of BJP-led NDA government in Bihar, Tejashwi said that for last six months, salaries for employees and pension payments in Bihar haven't been made because the treasury is empty. Even after more than a year, contractors haven't been paid, he alleged.
“Forget new projects—work has not even started on the work plans approved in 2023-24. As for the announcements made in 2025 and 2026 without any thought or consideration, let us not even get into that. There are massive power cuts. Scholarship money isn't being disbursed. The Student Credit Card scheme is at a standstill, he added.
“Instead of regular budgetary provisions (Regular Budgetary Provisions), withdrawing Rs ,3662 crore from the contingency fund to pay pensions from that fund- on such a decision, chief minister should explain why, despite decades of double-engine government, things have come to this pass? Instead of hyping up unnecessary issues, the novice Chief minister should immediately address the worried, frightened, and anxious people of Bihar regarding the state's pathetic financial situation,” former deputy chief minister said.
He claimed that due to a shortage of funds, last Tuesday’s cabinet meeting also ended the ongoing "Bihar State Crop Assistance Scheme" that had been running from before.
“Bihar's financial condition is alarming,” he remarked.
“The Contingency Fund is used by the government to meet needs during any unforeseen crisis, natural disaster, or financial calamity. In a state where the Contingency Fund is now being tapped just to pay pensions, you can imagine how dire and dangerous the situation has become in the state,” he asserted.
However, ruling dispensation countered RJD leader’s attack on financial health of state government. “The issue is being projected out of proportion. BJP state president Sanjay Saraogi said that Tejashwi was trying to mislead people by presenting misinformation. BJP leader asked RJD’s national working president to know the fact before making any comment.