Bihar Secures Rs 58,900 Crore Boost in Union Budget 2024 for Expressways, Airports, Power, and Flood Management
New Delhi, 23rd July 2024: Union Finance Minister Nirmala Sitharaman presented the General Budget 2024 in Parliament, announcing substantial allocations for Bihar. The state has been granted a total of ₹58,900 crore for various development projects, including infrastructure, power, and flood disaster management.
In a significant boost to Bihar’s infrastructure, ₹26,000 crore has been allocated for road construction, marking a major step forward for the state’s highway network. This includes the approval of the Patna-Purnia Expressway and the Buxar-Bhagalpur Expressway. Additionally, the Vaishali-Bodhgaya Expressway has also been approved.
The power sector in Bihar is set to receive a significant investment of ₹21,400 crore. This includes the establishment of a 2400 MW power project in Pirpainti. Furthermore, Bihar will benefit from ₹11,500 crore allocated for flood disaster management, aimed at mitigating the impact of recurrent floods in the state.
Finance Minister Sitharaman also announced several other initiatives for Bihar. New medical colleges and airports will be constructed, enhancing the state’s healthcare and connectivity. The central government will also build two new bridges over the Ganges, improving transport links across the river.
‘Purvodaya’ Scheme and Industrial Development:
The Finance Minister highlighted the launch of the ‘Purvodaya’ scheme, aimed at the comprehensive development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. This scheme focuses on building industrial corridors to spur economic growth in the eastern region of India.
Gaya, Bihar, will be developed as an industrial region under the Amritsar-Kolkata Industrial Corridor project. The central government will expedite external assistance for Bihar’s development through multilateral development banks and provide additional funds via capital investment.
Key Announcements for Bihar from Budget 2024:
1. Road Infrastructure:
– ₹26,000 crore for road construction, including the Patna-Purnia, Buxar-Bhagalpur, and Vaishali-Bodhgaya expressways.
– Construction of an additional two-lane bridge over the Ganges near Buxar.
2. Power Projects:
– ₹21,400 crore for power projects, including a 2400 MW power plant in Pirpainti.
3. Flood Disaster Management:
– ₹11,500 crore for flood disaster management.
4. Healthcare and Connectivity:
– New medical colleges and airports to be built in Bihar.
– Emphasis on sports infrastructure development.
5. Industrial Development:
– Promotion of industrial development in Gaya under the Amritsar-Kolkata Industrial Corridor.
– Expedite external assistance requests from multilateral development banks for Bihar.
– Additional funds through capital investment.
