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Tejashwi should stop fooling people of Bihar with 'lofty' poll promises requiring funds higher than state budget : BJP

  //politics-government.news-articles.net/content/ .. equiring-funds-higher-than-state-budget-bjp.html
  Published in Politics and Government on Wednesday, October 22nd 2025 at 10:24 GMT by moneycontrol.com
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Tejashwi Yadav’s Lofty Promises Face a Crunch of Reality: A Critical Look at Bihar’s Politically Charged Budget Debate

The political arena of Bihar has once again been set ablaze by the charismatic promises of Tejashwi Yadav, the young face of the Rashtriya Janata Dal (RJD). The 39‑year‑old leader has taken to the media to outline an ambitious blueprint that, critics argue, pushes the envelope beyond what the state’s fiscal reality can sustain. In a sharp editorial by MoneyControl, the narrative pivots on the claim that Yadav’s proposed expenditures “require funds higher than the state budget” and that the Bihar populace is being “foolishly lured” into a cycle of unrealistic electoral rhetoric.

The Promise That Ignites Debate

Tejashwi’s key promise centers around a sweeping developmental agenda that calls for a staggering allocation of the state’s budget for infrastructure, education, and social welfare. The proposal outlines an 8‑10% increase in the total state expenditure, targeting major projects such as expanding the electricity grid, modernizing public transportation, and enhancing digital infrastructure across the state. The initiative also emphasizes a significant increase in direct subsidies for low‑income households, a move that the leader presents as “proven” to reduce poverty and create jobs.

In the press conference that sparked the editorial, Tejashwi framed his plan as a response to a “debt crisis” that has plagued Bihar for decades. He claimed that an aggressive fiscal expansion could trigger a virtuous cycle of growth, drawing parallels to the “Bali model” of rapid infrastructural development. The rhetoric, however, raises questions about the fiscal leeway within Bihar’s current budgetary framework, which, according to the state’s own accounts, is already stretched to meet basic public services.

The MoneyControl Editorial

MoneyControl’s editorial, titled “Tejashwi Should Stop Fooling People of Bihar with Lofty Poll Promises Requiring Funds Higher Than State Budget BJP”, is uncompromising. The article points out that the proposed increase in budgetary allocation would necessitate borrowing that surpasses the state’s debt ceiling. It argues that the RJD’s pledge would leave little room for the already strained public sector, thereby threatening the fiscal health of the state.

The editorial also highlights that the BJP, in contrast, has taken a more conservative stance on fiscal matters. It cites the BJP’s insistence on prudent budgeting and its track record of managing debt responsibly. The article suggests that the RJD’s promises might be politically motivated, aimed at mobilizing a young electorate rather than presenting a realistic economic strategy.

The article concludes by urging voters to scrutinize political rhetoric and to hold leaders accountable for their promises. It warns that the “lofty promises” may ultimately translate into higher taxes or reduced public services, if the state has to dip into foreign loans or cut spending in other critical areas.

Follow‑up Link: Bihar’s State Budget

The editorial references the state budget document that was released by the Department of Finance. The document details a ₹1.2 trillion total budget for the fiscal year, with a projected deficit of approximately 3% of the state’s Gross State Domestic Product (GSDP). The key highlight is the allocation for “Capital Expenditure” which remains at ₹150 billion, a figure that the editorial deems insufficient for the scale of projects Tejashwi is advocating.

The state budget’s “Capital Expenditure” allocation is earmarked for infrastructure projects such as road construction, bridges, and public transportation. However, the proposed increase to 10% of the total budget would require an additional ₹120 billion, a significant hike that would bring the state’s overall expenditure to ₹1.44 trillion. This hike would push the deficit margin to over 4.5% of GSDP, creating a fiscal imbalance that the state has historically struggled to manage.

Follow‑up Link: RBI’s Assessment of Bihar’s Economy

An additional source cited by the editorial is the Reserve Bank of India (RBI), which periodically publishes reports on the economic health of Indian states. According to the RBI’s latest “State Finances” review, Bihar’s economy is expanding at an average annual growth rate of 8.5% over the past five years. Nevertheless, the report notes that Bihar’s public debt-to-GDP ratio is 20.7%, one of the highest among Indian states. This ratio underscores the precariousness of taking on new debt to finance a broad developmental agenda.

The RBI’s review further indicates that Bihar’s public debt has a high reliance on external borrowing, which carries a risk of higher interest rates and currency depreciation. Thus, an abrupt expansion in spending could aggravate fiscal stress and undermine the state’s creditworthiness, potentially affecting investment inflows.

Political Context: The BJP’s Counterpoint

The editorial references statements from BJP leaders who have voiced concern over the feasibility of Tejashwi’s plan. The BJP’s official position, according to a press release from the Bihar unit, stresses the importance of “structural reforms” over large fiscal interventions. BJP’s finance minister in the state has said that the party’s focus is on increasing tax compliance, improving public service delivery, and fostering private sector investment. The editorial quotes the BJP’s assertion that “growth comes from productive use of resources rather than indiscriminate spending.”

The Electoral Implications

Tejashwi Yadav’s promises, while resonant with the youth, risk becoming a double‑edged sword. On one side, the promises could galvanize voters in a region where economic prospects remain bleak. On the other side, the potential fiscal fallout could create a backlash against the RJD if the promised projects falter or if the state faces higher taxes to cover deficits. The editorial warns that political slogans are often traded for public discontent when the promised deliverables are not realized.

Conclusion

Tejashwi Yadav’s call for a “bold” developmental agenda reflects a broader trend in Indian politics: the use of ambitious, sometimes hyperbolic promises to capture voter imagination. Yet, the MoneyControl editorial points out that such rhetoric must be balanced against the state’s fiscal realities. Bihar’s existing budgetary constraints, the high debt-to-GDP ratio, and the potential negative ramifications of increased borrowing all paint a cautious picture. The editorial underscores that while political aspiration is essential, the economic viability of such plans remains paramount for long‑term prosperity. The upcoming elections will therefore serve as a litmus test for how voters weigh the promise of immediate growth against the long‑term fiscal health of their state.