The Bihar election has descended into a dangerous contest of fiscal recklessness, where both the ruling National Democratic Alliance (NDA) and the opposition Mahagathbandhan are treating the state exchequer as an electoral weapon. In the battle to outbid each other in promises, they have pushed economic prudence aside and turned the manifesto into a marketplace of freebies. This is not a vision for development — it is political opportunism at the expense of Bihar’s long-term stability.

NDA’s Populist Overdrive

The NDA’s newly released manifesto, presented with much fanfare, projects itself as a document of continuity and progress. Yet behind the glossy language lies a heavy populist core. It promises one crore jobs, free education for girls, women’s empowerment packages, agricultural subsidies, and a slew of new welfare schemes. The estimated annual cost of these commitments crosses ₹36,000 crore, a figure wholly incompatible with Bihar’s financial reality.

Bihar’s debt-to-GSDP ratio has already breached 38 percent, among the highest in the country. The state’s own tax and non-tax revenues contribute barely a quarter of total receipts, forcing dependence on central transfers. Despite this, the NDA seeks to expand recurring expenditures that will further strain revenue and debt management.

The hypocrisy is striking. Prime Minister Narendra Modi had once labelled the freebie culture as “revdi politics,” warning that such promises are “dangerous for the nation’s economy.” Yet, the same alliance that condemned populism now practices it without restraint in Bihar. The manifesto does not specify how these schemes will be financed — there is no mention of expanding revenue bases, attracting private investment, or creating sustainable jobs. It is a vote-buying exercise disguised as development.

The NDA’s strength historically lay in its focus on infrastructure, law and order, and........

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