News Summary:
- The Bihar government has received approximately Rs 275 crore as interest on the central share deposited in its bank accounts till March 31. This amount needs to be returned to the central government by September 31 in order to receive the next installment of special financial assistance.
- Out of the total of 13 thousand crore rupees expected to be received in this financial year, six thousand crore rupees have already been received by the Bihar government. In the previous financial year, they received eight thousand crores as special financial assistance.
- The delay in the implementation of Centrally Sponsored Schemes (CSS) has resulted in the central share remaining in bank accounts, leading to the accrual of interest on the amount. This interest has been earned by various departments such as law, agriculture, social welfare, and building construction.
- The central government claims that the interest amount belongs to them since it was given for development and welfare schemes. The Finance Department of Bihar has calculated the amount to be deposited in the Consolidated Fund of India as per the instructions received from the Centre.
- The central government has linked the interest amount to the availability of special financial assistance and CSS. Failure to deposit the interest amount on time will result in the non-release of the next installment. Currently, an average of Rs 20 thousand crore per year is received for CSS.
- The state government of Bihar has expressed its concerns about the imposition of centrally sponsored schemes, which adds to the economic burden on the state. It believes that other development and welfare works are equally important and should not be overlooked.
- Due to strict economic norms, the central government has received more than four thousand crores in interest from various states, including Bihar.
