Central Loans and Economic Development of Bihar During Plan Period

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About the Book The present book has been divided into six chapters interconnected with its theme. Chapter One highlights the backwardness of Bihar in terms of various indices and discusses the constitutional provisions of resources and functions between the center and the state. The principles of federal finance have been discussed in light of market-friendly and environmental development. Chapter two discusses the role of transferred resources with their sources and forms i.e. Finance Commission, Planning Commission of India, and Central Ministries. Chapter three examines the role of public debt in economic development, the constitutional provisions of state borrowing, its various sources, and the background of central loans in the states with special reference to Bihar. Chapter four discusses the magnitude, direction, and impact of central loans in Bihar, outstanding liabilities, and comparative analysis concerning other states. Chapter Five deals with debt management with particular reference to the central loan in terms of its magnitude, and ratio to revenue expenditure of Bihar. The last chapter contains the summary, conclusion, and suggestions on Central loans in Bihar. The book is based on certain postulates being inelastic resources and elastic functions of states necessitating the resource transfer to the states to remove regional imbalances.

About the Author Dr. Awadhesh Kumar Mishra, M.A. (Econ), Ph.D. (Born on 2nd January 1961) is Assistant Professor in the Department of Economics, SNSRKS College, Saharsa, a constituent unit of BN Mandal University, Madhepura (Bihar). He initially joined as a Lecturer after obtaining his M.A. degree from Patna University in 1984. He did his Ph.D. in 1998 from Magadh University. He is a popular teacher of economics both at the undergraduate and postgraduate levels of the university. He has contributed to several research papers published in reputed national journals. He keeps himself actively associated with research and teaching activities.

Preface The book on "Central Loan and Economic Development of Bihar during Plan Period" deals mainly with the different aspects of the central loan in Bihar. The division of resources between the centre and the states is in favour of the centre necessitating the transfer of the resources to the states from the center. Central loan form is one of the involving the inverse flow of resources to the center in the form of repayment and interest payment. Tax-Sharing and grants from the centre to the states have no such reverse flow.

Introduction Bihar, as an independent state owes its origin in the year 1912, being separated from Bengal Presidency, Odisha, a part of Bihar was bifurcated in 1936. Jharkhand being a very minerally rich belt of Bihar was separated and created as a State in mid November 2000. Prior to the independence of India, it was called province. Before the State Re-orgainsation Committee, 1956 there were four categories of States-A, B, C & D. Bihar was in the 'A' category, there after this classification was done away with. Indian states were divided into States and Union Territories. Bihar is enjoying the status of State in India.