Planning deparment moots internship for Chandragupta Institute of Management Patna students

PATNA: A move is afoot to utilize the services of students of Chandragupta Institute of Management Patna (CIMP) and other such institutes with proven credentials through their internship in the Directorate of Economics and Statistics (DES), a wing of the state's planning and development department (PDD), for analysing different aspects of Bihar's financial profile and economy.
PDD principal secretary Vijay Prakash, on Friday, said analysing the state's economy should be made part of the CIMP curriculum. "I would say that CIMP students should have internship at the DES and analyse the state's economy, both in the light of budgetary allotments and overall study of its income and areas of expenditure," Prakash said, adding that since DES required manpower, it would invite professionals.
Prakash said a workshop would be held in the near future. Professionals would deliberate on the ways their services could be mustered to study the state's economy under the aegis of DES. "We, in fact, are looking forward to professionals doing research on the subject, as the insights gained would be helpful in the state's planning process itself," Prakash said.
He made these observations during the release of the book 'Analysis of Budgetary Transactions of State Government' for five fiscal years from 2007-08 to 2011-12. While the book has been brought out by the DES, among those who released it were PDD minister Narendra Narayan Yadav, finance department principal secretary Rameshwar Singh, Prakash, advisers of Bihar State Planning Board, and DES director Jitendra Kumar Sinha.
While the budget, by its very nature, reveals merely financial transactions, the book reclassifies them into 10 economic groups as warranted by the United Nations to understand their economic effects. As the book brings out, the total receipts (income) of the government, both from internal resources and as central assistance, have increased manyfold in five financial years, beginning 2007-08.
The volume of total receipts of the state increased at annual compounding growth rate (ACGR) of 21.62% from Rs 29,847.78 crore to Rs 65,312.84 crore during the period. Matching with the same, internal receipts of the state also registered ACGR of 20.27% - from Rs 23,547.85 crore in 2007-08 to estimated Rs 49,266.31 crore in 2011-12. In tune with the same, the receipts from the Centre to the state also increased from Rs 6,299.93 crore to estimated Rs16,046.53 crore - at ACGR of 26.33%.
However, the expenditure side, during the same period, recorded ACGR of 19.93%, and expenditure increased from Rs 31,573.19 crore to Rs 65,327.87 crore. Gross capital formation occurred at ACGR of 16.52%, and its worth increased from Rs 7,909.23 crore in 2007-08 to Rs 14,581.29 crore. Similarly, the income generation in the state increased from Rs 12,464.81 crore to Rs 24,815.80 crore at ACGR of 18.78%.