State Proposes Rs 1.28 Lakh Crore Budget, Sets Sights on Rs 10 Lakh Crore Economy

Jharkhand government introduces a significant budget for FY 2024-25, focusing on development and social welfare to reach a Rs 10 lakh crore economy.

RANCHI – The Jharkhand government has unveiled a Rs 1.28 lakh crore budget for the fiscal year 2024-25.

This ambitious budget represents a 10.7 percent increase from the previous year.

It underscores the government’s commitment to boosting economic growth.

The aim is to enhance the quality of life for Jharkhand’s citizens.

The finance minister has set a vision for Jharkhand to become a Rs 10 lakh crore economy by 2029-30.

This vision is supported by a strategic focus on fiscal management and developmental initiatives.

The new budget significantly enhances the farm loan waiver limit to Rs 2 lakh.

It expands the state food security programme by 5 lakh beneficiaries.

A ‘Bal’ budget with Rs 8,866 crore allocation aims at inclusive educational development.

Infrastructure development includes plans for 3.50 lakh houses under ‘Abua Awas Yojana.

The government will establish 325 block-level leader schools and 19 colleges.

A state technology park at BIT Sindri in Dhanbad is proposed.

Proposals for a new medical college and Medico City in Ranchi aim to boost healthcare.

Opposition Critique and Supportive Chamber

The BJP criticized the budget as "anti-development," leading to a walk-out.

The Federation of Jharkhand Chamber of Commerce and Industries praised the economic target.

It highlighted the budget’s potential to uplift the rural economy and promote tourism.

Jharkhand’s Journey Towards a Trillion Economy

The state aims for a 7.8 percent growth rate in 2024-25.

This is part of the strategy to achieve a Rs 10 lakh crore economy.

The budget reflects a mix of fiscal prudence, developmental focus, and social welfare.

It aims to propel Jharkhand into a new era of prosperity and growth.