Bolot Ayushiyev was born on 19 June 1949[3][4] in the village of Urda-Aga, Aginsky Buryat Autonomous Okrug.

He graduated from the Kuibyshev Planning Institute in 1972, and the Academy of Social Sciences under the Central Committee of the CPSU in 1990.

He worked as a senior economist and chairman of the planning commission of the Aginsky Buryat regional executive committee, head of the financial department of the Duldurginsky and Aginsky regional executive committees.

In April 1990, he was elected chairman of the Aginsky Buryat District Council of People's Deputies; in 1993 he was elected a deputy of the Federation Council of the first convocation,[3] and was a member of the Committee on Budget, Tax Policy, Financial, Currency and Customs Regulation, Banking.

He associated economic development with the solution of social problems, the provision of guarantees for the protection of veterans, pensioners, large families.