Champai Soren-led Jharkhand govt presents Rs 1.28 lakh crore Budget for 2024-25
Feb 27, 2024
Ranchi (Jharkhand) [India], February 27 : The first Jharkhand government Budget under newly sworn-in Chief Minister Champai Soren was tabled on Tuesday. The budget for the upcoming financial year 2024-25 was pegged at Rs 1.28 lakh crore.
The budgetary estimates for next year were up 10 per cent from the previous budget estimates of 2023-24, and 6.5 per cent up against the revised estimates.
The JMM-led coalition government had presented a budget of Rs 1.16 lakh crore for the current financial year 2023-24. The budgeted figures were later upwardly revised to Rs 1.20 lakh crore.
The fiscal deficit is estimated to be 2.02 per cent against the target of limiting it to 3.0 per cent of GSDP in financial year 2024-25.
"For the purpose of FRBM Act GSDP estimate by CSO is used and may lead to change in estimation of fiscal deficit," the Budget document said.
On current price, Jharkhand GSDP for 2024-25 has been projected at Rs 470,103.54 crore, assuming 9.80 per cent growth over the advance estimate of 2023-24 at Rs 428,154.78 crore).
"With this Budget, there will be further development in the state. This budget is in the interest of every section of the society," Jharkhand CM Champai Soren told reporters after the Budget was tabled by the finance minister Rameshwar Oraon, on the floor of the Assembly.
In the breakup, 31 per cent of Jharkhand receipts come from share of central taxes, 26 per cent from state's own sources of taxes, 15 per cent from state's own non-taxes, 13 per cent as grants in aid, 14 per cent borrowings, and 0.1 per cent from recovery of loans and advances, the Budget document showed.
