On 3 March 2025, Finance Minister (FM) of Jharkhand, Radhakrishna Kishore Jllhas introduced the state budget for the financial year 2025-26 (FY 26), amounting to Rs.1,45,400 crore. It is called the “Abua Budget,” symbolizing the state’s commitment to the welfare of all its people. It represents an increase from the previous year’s budget of Rs 1.28 lakh crore.
- The budget focuses on helping the poor, farmers, tribals, and women in the state, and aims for inclusive development.
Financial Indicators:
i.The state’s economy is projected to grow at a rate of 7.5% during this period.
ii.The fiscal deficit for FY 26 is estimated at Rs 11,253 crore.
iii For the upcoming fiscal year, the state expects to generate Rs 35,200 crore in revenue from its own tax sources.
iv.Jharkhand Gross State Domestic Product (GSDP) at current prices was about Rs.4.6 trillion in FY24 and the State Government will try to make it Rs.10 trillion by FY30.
Key Allocations:
i.To strengthen the agricultural sector and support farmers, the Government of Jharkhand has set aside Rs 4,587 crore.
- A total of Rs 140 crore has been set aside for modern farming equipment, while Rs 203 crore will be used for water conservation initiatives, including pond construction and deep boring projects.
- To boost horticulture, Rs 304 crore has been allocated, ensuring better opportunities for farmers.
- Rs 350 crore has been earmarked for crop insurance to protect farmers from losses, and Rs 259 crore will be invested in improving storage facilities for agricultural produce, reducing wastage and enhancing market access.
- Additionally, Rs 79,000 crore has been proposed for the Animal Husbandry Department to help farmers expand and improve their production.
ii.The Jharkhand government has prioritized infrastructure and rural development in its budget, allocating Rs 9,841 crore for various rural development projects.
- To enhance water resource management, Rs 2,257 crore has been set aside, ensuring better access to irrigation and water conservation measures.
- Additionally, Rs 1,200 crore has been allocated for the construction of 1,200 kilometre (km) of roads and 10 major bridges, aiming to improve connectivity and transportation across the state.
- Additionally, glass bridges will be constructed at prominent sites such as Dasam and Hundru Falls.
iii.The budget has allocated Rs 62,844 crore to the social sector to support various development initiatives.
- Within this, Rs 13,363 crore has been set aside for the Jharkhand Mukhyamantri Maiyan Samman Yojna(JMMSY), a financial aid scheme aimed at supporting women and improving their economic stability.
- Rs 5,005.9 crore has been allocated for Free Electricity.
iv.The budget includes provisions for strengthening education and healthcare infrastructure in Jharkhand.
- New medical colleges will be established in Ranchi, Khunti, Giridih, Jamshedpur, Dhanbad, Deoghar, and Jamtara to enhance healthcare services and expand medical education.
- Additionally, universities will be set up in Jamshedpur, Gumla, and Sahibganj to improve access to higher education.
- Further, Business and Mass Communication schools will be developed in Jamshedpur, Palamu, Ranchi, Dhanbad, and Deoghar, providing specialized learning opportunities in these fields.
v.The budget includes initiatives to promote technology and innovation in Jharkhand, with plans to establish J-Hub and a State Technology Park to encourage research and technological advancements.
vi.Additionally, provisions have been made for the development of Tapovan Mandir in Ranchi, Jharkhand and the formation of an advisory panel for Scheduled Castes (SCs), designed following the Tribes Advisory Council (TAC) framework.
About Jharkhand:
Chief Minister (CM)– Hemant Soren
Governor– Santosh Kumar Gangwar
Capital– Ranchi
Wildlife Sanctuaries – Hazaribagh Wildlife Sanctuary, Koderma Wildlife Sanctuary
