In Ranchi, on February 24, the Jharkhand government presented a budget of Rs 1.58 lakh crore for the 2026-27 fiscal to the assembly. This budget, totaling Rs 67,460 crore for the social sector, aims to improve the lives of the poor, women, and other vulnerable groups.
The JMM-led government had previously presented a budget of Rs 1.45 lakh crore for the 2025-26 fiscal.
Finance Minister Radhakrishna Kishore stated that the new budget, up 9% from the current fiscal, would benefit all sections of society, including the poor, farmers, tribal communities, and women.
Kishore emphasized that the budget would address the needs of every group, with allocations of Rs 32,055.83 crore for the general sector, Rs 67,459.54 crore for the social sector, and Rs 59,044.63 crore for the economic sector.
He also announced the introduction of the "Mahila Khushhali Yojna," a scheme for women engaged in agricultural activities, with a budget of Rs 25 crore. This scheme will also include the establishment of 100 new CM schools of excellence.
Kishore highlighted that Jharkhand possesses rich mineral resources, including religious sites like the Baba Baidyanath temple and the Rajrappa temple, as well as popular tourist destinations like Netarhat. He asserted that the state government is committed to inclusive growth and development for all its citizens.
Despite facing opposition, Kishore stated that the government will continue its efforts to develop the state.
Kishore accused the central government of providing inadequate financial assistance to Jharkhand, citing a shortfall in central tax shares and grants-in-aid.
He also criticized the Union government for delaying the payment of dues amounting to Rs 1.36 lakh crore related to coal mining by central PSUs.
Kishore announced that revenue expenditure is estimated at Rs 1.20 lakh crore, a 9.2% increase from the previous year, while capital expenditure is projected at Rs 37,708 crore, representing an 8.5% increase.
The state is expected to receive Rs 46,000 crore from its own tax revenue and Rs 20,700 crore from non-tax revenue.
In addition to grants-in-aid of Rs 18,273.66 crore, Jharkhand's share in central taxes amounts to Rs 51,236.38 crore.
Kishore stated that the fiscal deficit for 2026-27 is estimated at Rs 13,595.96 crore, which represents 2.18% of the estimated Gross State Domestic Product (GSDP).
Kishore stated that Jharkhand's GSDP in the 2024-25 fiscal year is estimated at around Rs 5.16 lakh crore, and the government aims to double this figure within the next five years.
He emphasized that this requires achieving around 14% growth at current prices, which would correspond to a growth rate of approximately 9-10% at constant prices.
Kishore also pointed out that the projected growth rate for the next fiscal is 10.03% at current prices, and the state's GSDP grew at an average annual rate of 14.1% from 2021-22 to 2025-26.
He noted that the state's GSDP has grown at an average annual rate of 9.9% from 2011-12 to 2024-25, with economic growth being affected by factors such as a weak monsoon in 2015-16, an economic slowdown in 2019-20, and the COVID-19 pandemic in 2020-21.
Kishore also announced plans to establish the Dr Bhimrao Ambedkar University at the Chatra district headquarters to boost higher and technical education, and to set up job-oriented colleges.
In the first phase, 12 colleges will be established in seven districts.
He also announced a budgetary provision of Rs 14,066 crore for financial assistance to women under the "Maiya Samman Yojana," providing Rs 2,500 per month.
Kishore stated that Jharkhand has received investment proposals worth Rs 1.24 lakh crore through the World Economic Forum (WEF) platform, which is expected to create 45,000 jobs in sectors such as steel, energy, manufacturing, and infrastructure.
The FM stated that the plan-head budget was estimated at Rs 1,00,891 crore, 10% up from the ongoing fiscal, while the establishment head was pegged at Rs 57,669 crore, an increase of 7.5% from the current fiscal.
Under the "Bal Budget" (child budget), an allocation of Rs 10,793 crore has been made.
The FM stated that a Gender Budget has been prepared on the basis of around 232 women-related schemes out of the schemes of 17 departments, in which a total provision of Rs 34,211 crore has been made.
Jharkhand Chief Minister Hemant Soren said the budget would fulfill people's aspirations.
