Ranchi, Mar 3 (PTI) The Jharkhand government on Monday presented a Rs 1.45 lakh-crore budget for 2025-26, allocating a whopping Rs 62,844 crore for social welfare programmes aimed at helping the poor, women and other vulnerable groups.

For its popular Jharkhand Mukhyamantri Maiya Samman Yojana that aims to enhance financial security and well-being of women in the age bracket of 18-50 years, it allocated Rs 13,363 crore. Additionally, Rs 5,000 crore will be allocated to a government scheme aimed at providing free electricity.

Presenting the maiden budget of the Hemant Soren-led government after it retained power following a resounding victory in assembly elections last year, Finance Minister Radhakrishna Kishore said the state's economy is expected to grow at a rate of 7.5 per cent in 2025-26 fiscal.

"I lay on the table of the House a budget of Rs 1.45 lakh-crore for the 2025-26 financial year on March 3 that coincides with the birth anniversary of great industrialist Jamsetji Nusserwanji Tata, who believed that economic independence is the base of political independence...This budget will pave way for overall development of the state," the finance minister said in the assembly.

The budget provides for an outlay of Rs 62,844 crore for the social sector and Rs 13,363 crore for Maiyan Samman financial aid to women, Kishore said.

Under the industrial policy, the government aims to attract Rs 20,000 crore in investment, which will generate both direct and indirect employment for 15,000 people, Kishore said.

"The focus will be on revenue generation, and tourism is expected to play a vital role in this effort," he added, noting that heli-shuttle services are planned to be launched in the state.

He also announced that an advisory council for scheduled castes will be established, following the model of the Tribal Advisory Council.

"Despite facing challenges, we have ensured to strengthen our economy and to focus on those who are not able to raise their voices... Our priority is various schemes launched by the coalition government like Jharkhand Sarvajan Pension, Maiyan Samman, Rojgar Srijan, and Krishi Rin Mafi among others," he asserted.

He said the fiscal deficit in the budget for the upcoming financial year is estimated to be at Rs 11,253 crore, which comes to 2.02 per cent of the GSDP.

Revenue receipts, which are steadily increasing, are projected to reach Rs 61,056 crore in the upcoming fiscal, he said. "Unlike many other states, Jharkhand is prioritising plan expenditure over non-plan expenditure. The plan expenditure for the next fiscal is projected at Rs 91,742 crore, underscoring the government's strong focus on development," he added.

The budget, which is 13 per cent higher than the last Rs 1.28 lakh-crore financial statement, will meet the aspirations of every section of society, he said.

Chief Minister Hemant Soren said this 'Abua Budget' (own budget) is a balanced one and will prove to be the "roadmap for overall development of Jharkhand".

He added, "This budget has been prepared with the unprecedented participation and suggestion of the people of the state." The JMM-led coalition government had presented a budget of Rs 1.28 lakh-crore for the 2024-25 financial year.

Kishore said the government has embarked on a multi-pronged strategy to make Jharkhand a Rs 10 lakh-crore economy by 2029-30.

Kishore said despite political storms faced by Soren, the state is committed to tread ahead on the path of development and with fulfilling all promises made in the JMM-led alliance poll manifesto.

He lamented that the central assistance to Jharkhand was a meagre about Rs 17,057 crore impacting development here.

The FM said revenue expenditure at Rs 1,10,636 crore was up 20.48 per cent as compared to ongoing fiscal.

He said capital expenditure to augment infrastructure was pegged at Rs 25,720 crore, up 9.06 per cent as compared to current fiscal. PTI NAM/SAN ACD MNB

State budget boosts social welfare and plan expenditure, projects growth, and sets a fiscal deficit target for development. The 2025-26 state budget prioritises social-sector outlays, including a major allocation for the Maiya Samman scheme and a free electricity programme, emphasises plan expenditure over non plan expenditure, raises projected revenue and capital spending, and estimates a fiscal deficit as a percentage of GSDP. It sets an industrial investment target to generate employment and promote tourism revenue, and foresees an advisory council for scheduled castes mirroring the tribal advisory model.