New Delhi, Nov. 14 -- New Delhi: The National Democratic Alliance is set to return to power in Bihar with an even bigger majority, but the next state government will take office amid tightening fiscal constraints, sharply limiting its ability to deliver on expansive election promises such as 10 million jobs and seven new expressways.
The state has a revenue base of Rs.2.4 trillion to Rs.2.6 trillion, but nearly 60% of its revenue receipts are pre-committed to salaries, pensions and interest payments, shows government data. The fiscal deficit is already pressing against the Centre's 3% cap. This severely restricts room for discretionary spending on new welfare schemes, government hiring or capital-intensive projects, according to experts....
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