Jharkhand Budget 2023: Hemant Soren Govt Presents Rs 1.16 Lakh Cr Budget, 15% Higher Than Last One

The Jharkhand government on Friday presented a budget of Rs 1.16 lakh crore for FY24.

Jhakrhand finance minister Rameshwar Oraon with Budget documents ( Image Source :PTI )

Jharkhand Budget 2023: The Chief Minister Hemant Soren-led Jharkhand government on Friday presented a budget of Rs 1.16 lakh crore for the 2023-24 fiscal in the assembly which is 15 per cent higher than the previous annual financial statement, reported PTI. 

For FY 2022-23, the Jharkhand government had presented a budget of Rs 1.01 lakh crore. 

"I lay on the table of the House a budget of Rs 1,16,418 crore for the financial year 2023-24," Finance Minister Rameshwar Oraon said in the House while presenting the budget. 

He said, as quoted by PTI, “The budget will meet aspirations of the poor, exploited, downtrodden people and bolster all-round development in the state.” 

He added that Jharkhand Mukti Morcha (JMM)-led coalition government has brought many innovative schemes that will pave the way for rapid economic growth in the state, mentioned the PTI report. 

During his speech members of the opposition BJP and AJSU staged a walk-out of the assembly. 

The budget session of the Jharkhand assembly started on Monday. There will be 17 working days in the session, which will conclude on March 24. The government will table its budget for the financial year 2023-24 on March 3, they said.

There will be 17 working days in the session, which will conclude on March 24. 

The state economic survey on Thursday said the state's economy is expected to grow by 7.4 per cent in the fiscal beginning April 1, 2023 and is on the road to recovery despite being severely battered by the pandemic.

The state managed the fallout of the Covid-19 situation efficiently and as a result, the decline in its GDP was 5.5 per cent, which is less than the country’s 6.6 per cent decline during the period.

“The state grew at the rate of 8.2 per cent in 2021-22. It is estimated to grow by 7.8 per cent in the current financial year of 2022-23 and by 7.4 per cent in 2023-24,” said the economic survey tabled by the state finance minister in the Assembly.

The share of GSDP of the state in the GDP of the country is estimated to increase in the coming years, the survey said.