Jharkhand tables Rs 91,277 crore budget

Ranchi: Jharkhand govt on Wednesday tabled annual budget of the of  Rs 91,277 crore for the financial year 2021-22 with key focus on education and health sectors.

Jharkhand Finance Minister Rameshwar Oraon tabled the budget in the state  assembly on Wednesday amid parallel budget tabled by the main opposition party, BJP. Of Rs 91,277 crore a sum of Rs 75,755.01 crore has been set for revenue expenditure while a sum of Rs 15,521.99 crore has been set for institutional expenditure.

The budgetary allocations has been done in three sectors - general sector has been allocated a sum of Rs 26,734.05 crore, social sector 33,625.72 crore while the economic sector has been allotted a sum of Rs 30,917.23 crore.

Fiscal deficit for the year 2021-22 has  been pegged at Rs 10,210.87 crore which is 2.83 percent of the GSDP.

The finance minister said that in the year 2019-20 the growth rate of Jharkhand was 6.7 percent however due to Coronavirus pandemic apart from the country the growth rate in Jharkhand has been also impacted. He said that in the year 2020-21 the GDP of the country is expected to fall by 7.5 percent while that of Jharkhand is expected to decline by 6.9 percent.

He said “ due to the efforts of the state government development has once again come on track and due to far sighted policies in the year 2021-22 the growth rate has been projected at 9.5 percent “.

The state government likely to generate Rs 23,265.42 from its own taxes, non tax receipts have been pegged at Rs 13,500 crore. From central assistance a sum of Rs 17,891.48 crore while from the share in central taxes a sum of Rs 22,050.10 crore, from public borrowings Rs 14,500 crore and from advance taxes a sum of Rs 70 crore is expected.

The government hopes to earn a maximum of 25.49 percent from state own taxes, 24.16 percent from state's share of central taxes,  19.60 percent from grants in aid, 15.89 percent from borrowings, 14.79 percent from state own taxes while from recovery of loans and advances 0.07 percent has been projected.

As far as budgetary allocations are concerned a bulk allocation of 14.52 percent has been given to education, 14.16 percent has been given to the rural development,  8.55 percent to health and drinking water, 8.33 percent to police and disaster management department,  8.05 to percent welfare and social welfare and 7.45 percent as pension.

Jharkhand govt has introduced outcome budget in 11 departments. The poor people will be given Sari, Dhoti and Lungui at coust of Rs 10. Jharkhand govt has introduced scholarship for tribal students for aboard study. Every ten tribal students on merit basis will be selected under scholarship who will study in foreign countries.