The Chief Minister of Jharkhand Raghubar Das presented the state’s annual budget for 2017-18 on January 23, 2017 under the theme of “Garib Kalyan Varsh”. The main focus of the budget is on agriculture, education and skill development, rural development and eliminating poverty.
The Minister has presented a budget worth Rs 75,673.42 crore out of which Rs 57,861.32 crore would be revenue expenditure and Rs 18,812.10 crore would be capital expenditure.
Highlights of the Budget
i.The total allocated state budget for 2017-18 is 19.7 percent more than the current year.
ii.The main focus of the budget is agriculture, education and skill development, rural development. The budget also lays emphasis on agriculture, women empowerment and infrastructure electricity, roads, communication including civil aviation and railways.
iii.The total allocation in the capital expenditure has been increased by 21 percent while in revenue expenditure it has been increased by 18.66 percent.
iv.A sum of Rs 20,003.72 crore has been allocated for general sector, Rs 25,139.88 crore for social sector and Rs 30.529.82 crore for economic sector.
v.The Gross State Domestic Product (GSDP) for the year 2017-18 has been estimated at Rs 2,82,572 crore which is 13.19 percent more than that of the previous fiscal.
vi.The fiscal deficit for the year 2017-18 is estimated to be Rs 6,947.83 crore which is 2.29 percent of the GSDP.
vii.Major share of the budget has been allocated to the education sector with Rs. 10,000 crore.
viii.In agriculture sector the state government has increased the allocation by 12 per cent to Rs 5,375.22 crore which stood at Rs 4,845.72 crore in the previous fiscal.
ix.The gender budget fund allocation has been hiked by 30.05 percent to 16,384.23 crore as against Rs 7,684 crore in the previous fiscal.
x.The women welfare allocation has been increased by 30 percent while in skill development the total allocation has allotted to Rs. 704 crore from the previous Rs 145 crore.
xi.Among other sectors the total allocation includes, welfare/ minority welfare-7.10%, Policing and disaster management-6.23%, Urban development, drinking water and sanitation-6.02%, Health-4.10%, Rural development and Panchayati Raj-3.84%, Road and building construction-8.06%, Energy-7.93%
xii.The budget also laid emphasis on development of the scheduled tribes (ST) and scheduled caste (SC) and has allocated Rs 22,259 crore for special schemes related to their uplift.
xiii.Out of this Rs 18,026 crore has been allotted for development of ST areas while the remaining Rs 4,233 crore has been set aside for development of SC areas.
xivThe government expects to earn Rs 19,900.50 crore in tax receipts and Rs 11,258.16 crore from non-tax receipts.
xv.Besides, Rs 13,414.57 crore is expected from central aid while the states share from central share’s taxes is estimated to be worth Rs 21,034.19 crore.
xvi.The state government hopes to earn Rs 10,000 crore from public loans while advance loan collection is estimated to be worth Rs 66 crore