Jharkhand Budget: Rs 1.58 lakh crore plan targets jobs, farmers, health and growth
Ranchi, February 24: Finance Minister Radhakrishna Kishore on Tuesday presented a ₹1,58,560 crore budget for the financial year 2026-27 in the Jharkhand…
Ranchi, February 24: Finance Minister Radhakrishna Kishore on Tuesday presented a ₹1,58,560 crore budget for the financial year 2026-27 in the Jharkhand Assembly on the fifth day of the Budget Session. He began his speech by paying tribute to the state’s martyrs and Shibu Soren.
The minister said the coalition government is working to fulfil the vision behind Jharkhand’s creation despite political challenges. Referring to central support, he stated that development cannot move forward without cooperation from the Centre. He alleged that ₹5,000 crore in tax dues has not yet been released and that the state is facing a loss of ₹5,640 crore due to GST and changes related to MNREGA funding.
He assured that even without full central cooperation, the government will continue development work through internal resources.
Focus on Farmers and Rural Economy
The budget places strong emphasis on agriculture and rural development.
- ₹25 crore under the Women Farmers’ Happiness Scheme to promote integrated farming and better market access.
- ₹19.88 crore for the expansion of cash crops such as sugarcane and jute.
- ₹162.20 crore for cold storage-cum-solar complexes in every assembly constituency.
Education and Skill Development
The government has announced key steps to strengthen higher and technical education.
- 23 polytechnic institutes to be upgraded under the J-PRAGATI Scheme into Jharkhand Institute of Technology (JhIT).
- Establishment of Dr. Bhimrao Ambedkar University in Chatra.
- Introduction of Artificial Intelligence (AI) training in six selected ITIs.
Major Push in Health Sector
Healthcare services will be expanded across the state.
- PET-CT scan machines in five government medical colleges.
- Mammography machines in 24 district hospitals.
- Cath labs in all medical colleges.
- Target to open 750 ‘Abua Dispensaries’.
Roads, Bridges and Tourism Development
To improve connectivity and promote tourism:
- ₹1,000 crore for new roads under Chief Minister’s Gram Sadak Yojana.
- ₹730 crore for bridges under Gram Setu Yojana.
- Glass bridges and ropeways at Dasham and Jonha Falls.
- Ropeway at Hundru Falls.
- Eco-tourism projects at Rajrappa, Patratu, Netarhat, Punasi Dam, Malay Dam, Koleswari Hills and Perwaghagh Falls.
Industry and Employment
Investment proposals worth ₹1.24 lakh crore have been received through the World Economic Forum platform, which may create around 45,000 jobs.
The state has also set a target of ₹20,000 crore in new investments under industrial policies, expected to generate 15,000 jobs.
Child and Gender Budget
- Child Budget: ₹10,793.16 crore across 138 schemes (10.7% of the total plan).
- Gender Budget: ₹34,211.27 crore under 232 schemes across 17 departments.
Budget Size and Financial Position
The total budget of ₹1,58,560 crore is about 9% higher than last year.
- Revenue Expenditure: ₹1,20,851.90 crore (9.2% increase)
- Capital Expenditure: ₹37,708.10 crore (8.5% increase)
- Fiscal Deficit: ₹13,595.96 crore (2.18% of GSDP)
Jharkhand’s GSDP for 2024-25 is estimated at ₹5.16 lakh crore. The government aims to double it within five years, targeting 14% growth at current prices.
Revenue Sources:
- State Tax Revenue: ₹46,000 crore
- Non-Tax Revenue: ₹20,700 crore
- Central Assistance: ₹18,273.66 crore
- Share in Central Taxes: ₹51,236.38 crore
- Public Debt: ₹22,049.96 crore
- Loan Recovery: ₹300 crore
The government has also accepted the Fifth State Finance Commission’s recommendation to allocate 4% of net self-tax revenue to local bodies, with ₹1,172.66 crore earmarked for 2024-25 and 2025-26.
Overall, the Jharkhand Budget 2026-27 presents a roadmap for inclusive growth, with a clear focus on farmers, infrastructure, health, education, tourism and job creation while addressing financial challenges.
