Union Minister Bhupendra Yadav Calls Budget Historic, Emphasizes Bihar’s Growth Prospects

Patna: The Union Budget for 2025-26, announced with a monumental Rs 50.65 lakh crore, signals a new chapter in India’s economic journey, according to Union Minister of Environment, Forest and Climate Change, Bhupendra Yadav. Speaking at a seminar hosted by the Bihar Industries Association on Monday, Yadav emphasized the ambitious vision underpinning the budget, which he described as a “historic” document aimed at laying a strong foundation for a developed India by 2047.

“The budget has tripled in size over the past decade, from Rs 16 lakh crore in 2014 to Rs 50.65 lakh crore today,” Yadav noted, pointing to the transformation under the leadership of Prime Minister Narendra Modi. “India is no longer among faltering economies; we are now the world’s fifth-largest economy, moving steadily toward the third position.”

The Union Minister also highlighted key budgetary allocations, including Rs 16.29 lakh crore earmarked for central schemes and Rs 25.01 lakh crore designated for the states. Capital expenditure, primarily focused on infrastructure, stands at Rs 11.02 lakh crore. Yadav underscored the government’s commitment to easing business processes and enhancing the lives of citizens, with plans to abolish over 100 outdated laws that hinder development.

Yadav also provided insights into the provisions specific to Bihar, which include the creation of a Makhana Board with an investment of Rs 100 crore, the establishment of a National Institute of Technology to boost the state’s agricultural sector, and major infrastructure projects such as the development of a Brown Airport in Bihta and three greenfield airports. The Union government has also allocated funds for the Western Kosi Canal project, which is expected to enhance Bihar’s economic prospects.

Deputy Chief Ministers of Bihar, Samrat Chaudhary and Vijay Kumar Sinha, echoed the sentiment, affirming the strategic importance of Bihar’s development to the nation’s overall progress. Sinha noted that under Prime Minister Modi’s leadership, Bihar had received substantial attention in the budget, with provisions aimed at transforming the state into a key player in India’s growth story.

Samrat highlighted the NDA government’s consistent focus on Bihar’s development, emphasizing the historic achievements of the state, including the inauguration of Nalanda University by the Prime Minister and the recognition of Bihar’s cultural heritage on the national stage.

KPS Keshri, President of the Bihar Industries Association, opened the seminar by addressing regional disparities, urging the central government to take special measures to bridge gaps between states. He welcomed the provisions for Bihar, particularly those aimed at addressing the state’s flooding issues through the Kosi river canal project.

CII Vice-Chairman Gaurav Sah commended the government’s consultative approach in organizing pre- and post-budget discussions, highlighting the increased confidence among external investors in Bihar. This optimism was reflected in the January 2025 investor meet, where agreements for Rs 1.80 lakh crore worth of investments were signed, signaling growing investor interest in the state’s future.

The seminar concluded with a vote of thanks by Amarnath Jaiswal, Secretary General of the Bihar Industries Association, marking a successful discussion that looked forward to Bihar’s promising role in India’s economic future.