Budget 2024: Will Nirmala Sitharaman’s announcements change Bihar?

Union Budget 2024: As Finance Minister Nirmala Sitharaman in her Union Budget 2024-25 speech, made some big-bang announcements for the state of Bihar, experts suggest that the Rs 26,000 crore allocation for the development of road infrastructure and building airports will provide a boost to the state. Republic Business brings to you a larger picture of Bihar’s developmental scenario and whether the Budget will bring tangible changes to the state?  

Airport development

The announcements made in the Union Budget, such as building airports in Bihar, and developing tourism and pilgrimage centres in Bihar and Odisha aiming to make India a global tourist destination, are all initiatives that will boost and sustain the aviation and tourism industry of our country.  Besides, the plans to build airports are necessary for the sustenance of our local airlines and making their services efficient and competitive. 
In addition, UDAN, which has also been a game changer for India’s aviation, can have a larger footprint in Bihar. As many as 141 lakh passengers have availed the air services since the scheme was launched in 2016 travelling on 579 regional connectivity service (RCS) routes which are connecting 85 unserved and underserved airports. The decision to build airports in Bihar is being seen as a major step to further boost UDAN.

Expressway construction 

The construction of expressways will help the development of the state, which has lagged in various parameters of growth. A faster movement of goods will encourage investments in the state.  The setting up of medical colleges and airports is an Indicator that Bihar has growth potential.  Finance Minister Sitharaman also announced that the government will undertake comprehensive development programs for Vishnupad temple at Gaya, and Mahabodhi temple in Bodhgaya in Bihar. 

“Tourism has always been a part of our civilisation. Our efforts in positioning India as a global tourist destination will also create jobs, stimulate investments and unlock economic opportunities for other sectors,” the Finance Minister added.
“Vishnupad temple at Gaya, and Mahabodhi temple in Bodhgaya, are of immense spiritual importance. Comprehensive development of Vishnupad temple corridor and Mahabodhi temple corridor will be supported modelled on the successful Kashi Vishwanath corridor to make them a world-class pilgrim and tourist destination,” Sitharaman said adding that these measures will be carried out in addition to the ones announced in the interim budget.

“Rajgir holds immense religious significance for Hindus, Buddhists and Jains. A comprehensive development initiative for Rajgir will be undertaken. Our government will support the development of Nalanda as a tourist centre besides reviving Nalanda University to its glorious stature,” the Finance Minister added.

Odisha’s benefit 

While announcing measures for Odisha, Sitharaman said that the government will support tourism in the state that has scenic beauty, temples, craftsmanship, natural landscapes, wildlife sanctuaries and pristine beaches.
In the interim budget presented earlier this year, the total allocation of the Union Tourism Ministry was increased marginally to to Rs 2,449 crore in 2024-25 as compared to Rs 2,400 crore in 2023-24, the revised estimate for the year 2023-24 is Rs 1,692 crore.

(Source: Republicbiz)