Jharkhand Government Initiates Legal Steps to Recover Rs 1.36 Lakh Crore from Centre; Unveils Rs 1.45 Lakh Crore Budget
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Synopsis
On March 3, the Jharkhand government presented a budget of Rs 1.45 lakh crore for the 2025-26 fiscal year while claiming that the Centre owes them Rs 1.36 lakh crore. Finance Minister Kishore emphasized the need for legal action if the funds are not received, outlining plans for development and growth.
Key Takeaways
- Jharkhand's budget for 2025-26 is Rs 1.45 lakh crore.
- The state claims Rs 1.36 lakh crore from the Centre.
- Legal action will be pursued if funds are not received.
- Target to grow the economy to Rs 10 trillion by 2029.
- Child-specific budget introduced with Rs 9,411.27 crore.
Ranchi, March 3 (NationPress) The Jharkhand government has unveiled a budget of Rs 1.45 lakh crore for the fiscal year 2025-26 during the session in the state Assembly. In his address, Finance Minister Radha Krishna Kishore reaffirmed the state's assertion that the Centre owes Jharkhand Rs 1.36 lakh crore.
He mentioned that Chief Minister Hemant Soren has been persistently urging the Centre to clear these outstanding dues.
“Should the state not receive its rightful funds, we will pursue legal action,” Kishore declared.
The minister highlighted that various developmental initiatives in Jharkhand are being hindered due to the non-receipt of central funds, and the state's share of central allocations has diminished.
This year’s budget reflects a 12.81 percent increase compared to the previous year. The Jharkhand government aims to propel the state's economy to Rs 10 trillion by 2029, a significant rise from its current size of Rs 4 trillion.
The projected fiscal deficit for the upcoming financial year is Rs 11,253.44 crore. The economic growth rate for Jharkhand is estimated at 7.5 percent at constant prices and 9.9 percent at current prices.
Dubbed the 'Abua Budget (Our Budget)' , Chief Minister Hemant Soren described this budget as a blueprint for the comprehensive development of Jharkhand, which aligns with public aspirations and sustainable growth.
A total of Rs 13,363 crore has been earmarked for the ambitious Jharkhand Mukhyamantri Maiya Samman Yojana.
New medical colleges are set to be established in Ranchi, Khunti, Giridih, Jamshedpur, Dhanbad, Deoghar, and Jamtara district headquarters.
Plans to develop tourist circuits to enhance key destinations in Jharkhand are also underway.
New universities will be founded in Jamshedpur, Gumla, and Sahibganj.
In an effort to boost the education sector, innovation hubs and technology parks are planned.
The government will establish a Scheduled Caste Advisory Committee to address community concerns.
For the first time, a child-centric budget has been introduced with a provision of Rs 9,411.27 crore.
Loan waivers of up to Rs 2 lakh for 4 lakh farmers have been suggested in the budget.
The Chief Minister Maiya Samman Yojana aims to promote women's economic independence, social empowerment, and mental wellness in Jharkhand.
The budget allocates Rs 9,841 crore for rural development, Rs 4,587.66 crore for agriculture, Rs 140 crore for agricultural equipment, Rs 203 crore for pond construction and deep boring, Rs 304 crore for horticulture development, Rs 255 crore for livestock development, Rs 350 crore for crop insurance, Rs 259 crore for agricultural produce storage, Rs 2,144.78 crore for Panchayati Raj, and Rs 2,257.45 crore for water resources.
Prior to presenting the budget, Finance Minister Radha Krishna Kishore handed a copy to Governor Santosh Kumar Gangwar and Chief Minister Hemant Soren.
He expressed his appreciation to Congress leaders Rahul Gandhi, Sonia Gandhi, Mallikarjun Kharge, and CM Hemant Soren for the opportunity to present the budget.
