Ranchi, Mar 3 (PTI) The Jharkhand government on Monday presented a Rs 1.45 lakh-crore budget for 2025-26, allocating a whopping Rs 62,844 crore for social welfare programmes aimed at helping the poor, women and other vulnerable groups.
For its popular Jharkhand Mukhyamantri Maiya Samman Yojana that aims to enhance financial security and well-being of women in the age bracket of 18-50 years, it allocated Rs 13,363 crore. Additionally, Rs 5,000 crore has been made towards providing free electricity.
Presenting the maiden budget of the Hemant Soren-led government after it retained power following a resounding victory in assembly elections last year, Finance Minister Radhakrishna Kishore said the state’s economy is expected to grow at a rate of 7.5 per cent in 2025-26 fiscal.
“I lay on the table of the House a budget of Rs 1.45 lakh-crore for the 2025-26 financial year on March 3 that coincides with the birth anniversary of great industrialist Jamsetji Nusserwanji Tata, who believed that economic independence is the base of political independence…This budget will pave way for overall development of the state,” the finance minister said in the assembly.
The budget provides for an outlay of Rs 62,844 crore for the social sector and Rs 13,363 crore for Maiyan Samman financial aid to women, Kishore said.
Under the industrial policy, the government aims to attract Rs 20,000 crore in investment, which will generate both direct and indirect employment for 15,000 people, Kishore said.
“The focus will be on revenue generation, and tourism is expected to play a vital role in this effort,” he added, noting that heli-shuttle services are planned to be launched in the state.
The government proposed the launch of a helicopter shuttle service from Ranchi to religious destinations such as Deoghar, Basukinath, Rajrappa, Itkhori, and tourist spots like Betla National Park, Patratu Valley and Sahibganj.
In addition, the government plans to construct glass bridges at popular tourist destinations such as Dasam, Hundru, Netarjat, and Patratu in 2025-26 fiscal.
The budget also includes plans for ropeways in Jonha, Hundru, Kauleshwari, and Trikut. The government has proposed Rs 336.64 crore for the tourism department in the budget.
It allocated Rs 15,198.35 crore for primary and secondary education department, while Rs 2,409.20 crore has been earmarked for the higher and technical education department. For the health department, a budget estimate of Rs 7,470.50 crore has been announced.
It proposed to set up two universities, five law colleges and six medical colleges. To promote vocational education, the government proposed to set up a skill and a fin-tech university, besides establishing schools of business and mass communication in Jamshedpur, Palamu, Ranchi, Dhanbad, Hazaribag and Deoghar.
The government also proposed to set up law colleges in Hazaribag, Ranchi, Dhanbad, Dumka and Palamu to encourage legal studies, Kishore said.
He added that the government is committed to provide quality healthcare facilities to people.
“Administrative approval has already been given to set up a new medical college and hospital in Ranchi. Besides, setting up medical colleges in Khunti, Giridih, Jamshedpur, Dhanbad, Deoghar and Jamtara on a PPP mode has also been proposed in the budget,” he added.
To promote micro, small and medium enterprises (MSME), the government has proposed to establish a MSME directorate or a MSME cell.
The government also proposed to establish 59 new day boarding sports training centres.
Under the ‘Bal Budget,’ an allocation of Rs 9,411 crore has been made. In 2024, the government had introduced a separate ‘Bal’ budget for inclusive development of students with an allocation of Rs 8,866 crore.
He also announced that an advisory council for scheduled castes will be established, following the model of the Tribal Advisory Council.
“Despite facing challenges, we have ensured to strengthen our economy and to focus on those who are not able to raise their voices… Our priority is various schemes launched by the coalition government like Jharkhand Sarvajan Pension, Maiyan Samman, Rojgar Srijan, and Krishi Rin Mafi among others,” he asserted.
He said the fiscal deficit in the budget for the upcoming financial year is estimated to be at Rs 11,253 crore, which is 2.02 per cent of the GSDP.
Revenue receipts are projected to reach Rs 61,056 crore in the upcoming fiscal, he said.
The budget, which is 13 per cent higher than the last Rs 1.28 lakh-crore financial statement, will meet the aspirations of every section of society, he said.
CM Hemant Soren said this ‘Abua Budget’ (own budget) is a balanced one and will prove to be the “roadmap for overall development of Jharkhand”.
Kishore said the government has embarked on a multi-pronged strategy to make Jharkhand a Rs 10 lakh-crore economy by 2029-30. He lamented that the central assistance to Jharkhand was a meagre about Rs 17,057 crore impacting development here.
The FM said revenue expenditure at Rs 1,10,636 crore was up 20.48 per cent as compared to ongoing fiscal.
He said capital expenditure to augment infrastructure was pegged at Rs 25,720 crore, up 9.06 per cent as compared to current fiscal.
The opposition BJP termed the budget as “directionless,” saying it has “nothing for the tribals, farmers, labourers and youths.” PTI NAM/SAN ACD MNB
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.