Jaipur, Feb 27 (NationPress) In response to the ongoing debate regarding the Finance and Appropriation Bill in the Rajasthan Assembly on Friday, Chief Minister Bhajan Lal Sharma asserted that the state's economy is experiencing rapid growth, thanks to the public welfare initiatives and significant economic reforms implemented by his administration.

He underscored that the state's governance is centered on development and solutions, steering clear of confrontational politics.

Sharma highlighted that, under the direction of Prime Minister Narendra Modi, Rajasthan is steadily progressing towards becoming a developed state through innovation, reforms, and relentless efforts.

He proclaimed that Rajasthan is poised to serve as a vital growth engine in realizing the vision of a developed India by 2047.

The Chief Minister mentioned that Rajasthan's per capita income is anticipated to surpass Rs 2,02,349 in 2026-27, marking a significant growth of nearly 21.15 percent from Rs 1,67,027 in the previous year 2023-24.

He noted that advancements are evident across various sectors, including industry, agriculture, and services.

The total state budget for 2026-27 amounts to Rs 6,10,956 crore, reflecting an increase of approximately 41 percent compared to 2023-24.

According to him, the Gross State Domestic Product (GSDP) is projected to reach Rs 21,52,100 crore by 2026-27, indicating an increase of more than 41 percent from the previous year.

Sharma pointed out that while the former Congress-led government reported a GSDP growth of Rs 6,10,544 crore over five years, the current BJP government has estimated an increase of over Rs 6.3 lakh crore in just two years.

The average growth rate has escalated from 10.92 percent under the previous Congress administration to 12.25 percent under the current BJP rule, he stated.

"In real terms, the growth rate has surged from 5.3 percent to 8.7 percent. Revenue receipts for 2026-27 are projected at Rs 3,25,740 crore, representing a 14.08 percent increase compared to last year and nearly 60 percent more than the final year of the Congress-led government," the Chief Minister said.

He also noted that the state achieved its highest-ever capital expenditure of Rs 30,700 crore in 2024-25.

For 2026-27, an allocation of Rs 53,978 crore has been set aside for infrastructure development, more than double the Rs 26,646 crore designated in 2023-24. The total capital expenditure is expected to exceed Rs 1 lakh crore, with the fiscal deficit for 2026-27 limited to 3.69 percent, down from 4.31 percent in 2023-24," he reiterated.

"The three-year average fiscal deficit under the current BJP government stands at 3.94 percent, lower than the previous Congress government's five-year average of 4.34 percent. The debt-GSDP ratio is projected at 36.8 percent, compared to the prior average of 37.83 percent. The agriculture budget for 2026-27 has been set at Rs 1,19,408 crore, which is 34 percent higher than the Rs 89,190 crore allocation in 2023-24," he added.

Sharma revealed that nearly Rs 11,000 crore has been directly transferred to farmers' bank accounts in the last two years through the Pradhan Mantri Kisan Samman Nidhi and Mukhyamantri Kisan Samman Nidhi schemes.

He contended that more farmers have benefited under the current regime in areas such as fencing, farm ponds, solar lamp installations, and shade nets compared to the previous Congress government's five-year tenure.

Lastly, Chief Minister Sharma remarked that the Ram Jal Setu Link Project is advancing under the Prime Minister's leadership and is set to significantly enhance water availability in the Shekhawati region by connecting with the Yamuna river system.