Jharkhand govt tables Rs 1.58 lakh cr Budget for 2026-27; social sector allocation at Rs 67,460 cr

Ranchi, Feb 24 (PTI) Pledging inclusive growth and development of all sections of society, the Jharkhand government on Tuesday tabled in the assembly a Rs 1.58 lakh crore Budget for the 2026-27 fiscal, allocating Rs 67,460 crore for the social sector aimed at the welfare of the poor, women and other vulnerable groups.

The JMM-led government had in 2025-26 presented a Rs 1.45 lakh crore Budget.

"I lay on the table of the House a Budget of Rs 1,58,560 crore for the 2026-27 financial year, up 9 per cent as compared to the current fiscal. 'Abua Dishom' (our own) Budget will bring a smile on the faces of Jharkhand residents and wipe tears of the poor," Finance Minister Radhakrishna Kishore said.

The Budget will meet the aspirations of every section of society, including the poor, farmers, tribals and women, Kishore asserted.

"If we examine the total provisioned amount in the Budget from a sectoral perspective, Rs 32,055.83 crore has been allocated for the general sector, Rs 67,459.54 crore for the social sector, and Rs 59,044.63 crore for the economic sector," he said.

He also said that a scheme -- Mahila Khushhali Yojna -- for women engaged in agricultural activities is being introduced.

"We have allocated Rs 25 crore for it, while the next fiscal will also see the opening of 100 new CM schools of excellence," the minister said.

"Jharkhand is bestowed with rich mineral resources, religious places like Baba Baidyanath temple in Deoghar and the Rajrappa temple, besides popular tourist spots like Netarhat," he said, adding, the state government is committed to ensure inclusive growth and development of people.

Despite "hurdles" being created by the opposition, "we will not bow, and will move forward to ensure the all-round development of the state", Kishore said.

Kishore accused the Centre of step-motherly treatment to Jharkhand by not providing adequate financial assistance to it.

"The state did not get the central tax share of Rs 5,000 crore... and Rs 11,000 crore in grants-in-aid. The share of central taxes is gradually declining... The state has to bear an additional Rs 5,640 crore due to the VB-G RAM G (Act)," he claimed.

He also hit out at the Union government for "not clearing dues to the tune of Rs 1.36 lakh crore" in lieu of coal mining by central PSUs.

Kishore said Rs 1.20 lakh crore is proposed for revenue expenditure, 9.2 per cent higher than the previous year, while under capital expenditure, Rs 37,708 crore is proposed, reflecting an increase of 8.5 percent over the previous year's Budget.

The minister said the state is estimated to receive Rs 46,000 crore from its own tax revenue and Rs 20,700 crore from non-tax revenue.

In addition to Rs 18,273.66 crore from grants-in-aid, Jharkhand’s share in central taxes amounts to Rs 51,236.38 crore, he said.

"The fiscal deficit in the year 2026-27 is estimated to be Rs 13,595.96 crore, which is 2.18 per cent of the estimated GSDP," Kishore said.

Kishore said that at current prices, Jharkhand's GSDP in the financial year 2024-25 was about Rs 5.16 lakh crore, and it would be the government's endeavour to double it in the next five years.

"For this, we will need to achieve around 14 per cent growth at current prices. At constant prices, this would correspond to a growth rate of about 9-10 per cent," he said.

Kishore said a growth rate of 10.03 per cent is projected for the next fiscal at current prices, and in the post-COVID period (from 2021-22 to 2025-26), the state's GSDP grew at an average annual rate of 14.1 per cent.

"Between 2011-12 and 2024-25, the state's GSDP at current prices has grown at an average annual rate of 9.9 per cent. During this period, economic growth was adversely affected by a weak monsoon in 2015-16, an economic slowdown in 2019-20, and the COVID-19 pandemic in 2020-21," he said.

Elaborating on the development projects, he said to boost higher and technical education, Dr Bhimrao Ambedkar University will be established at the Chatra district headquarters, and job-oriented colleges would be set up.

In the first phase, 12 colleges will be established in seven districts, he said.

To empower women, a budgetary provision of Rs 14,066 crore has been proposed for financial assistance to the tune of Rs 2,500 per month, under the 'Maiya Samman Yojana'.

Kishore said through the World Economic Forum (WEF) platform, Jharkhand has received investment proposals worth Rs 1.24 lakh crore, which is likely to create employment for 45,000 in sectors like steel, energy, manufacturing and infrastructure.

The FM said the Budget on plan-head was estimated at Rs 1,00,891 crore, 10 per cent up as compared to ongoing fiscal, while establishment head pegged at Rs 57,669 crore, an increase of 7.5 per cent as compared to the current fiscal.

Under the 'Bal Budget’ (child budget), an allocation of Rs 10,793 crore has been made.

The FM said a Gender Budget has been prepared on the basis of around 232 women-related schemes out of the schemes of 17 departments, in which a total provision of Rs 34,211 crore has been made.

Jharkhand Chief Minister Hemant Soren said the Budget would fulfill people's aspirations.

"The Budget serves the interest of every section of the society and its impact will soon be seen on the ground," he said.

Jharkhand BJP chief Aditya Sahu termed the budget as "directionless and baseless". PTI NAM/SAN/RPS RBT SAN ACD