Ranchi, Mar 3 (IANS): The Jharkhand government on Wednesday tabled the annual budget of the of Rs 91,277 crore for the financial year 2021-22 with a focus on the education and health sectors.
Jharkhand Finance Minister Rameshwar Oraon tabled the budget in the state assembly on Wednesday amid a 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 have been done in three sectors: the general sector has been allocated a sum of Rs 26,734.05 crore, the social sector 33,625.72 crore and the economic sector Rs 30,917.23 crore.
The fiscal deficit for 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 per cent. However due to Coronavirus pandemic, apart from the country the growth rate in Jharkhand has also been impacted. He said that in 2020-21 the GDP of the country is expected to fall by 7.5 per cent while that of Jharkhand is expected to decline by 6.9 per cent.
Oraon said due to the efforts of the state government development has once again come on track. "Due to far sighted policies in the year 2021-22 the growth rate has been projected at 9.5 per cent ".
The state government is 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 per cent from state own taxes, 24.16 per cent from state's share of central taxes, 19.60 per cent from grants in aid, 15.89 per cent from borrowings, 14.79 per cent from state-owned taxes while from recovery of loans and advances 0.07 per cent has been projected.
The Jharkhand government has introduced outcome budget in 11 departments. Poor people will be given sari, dhoti and lungi at a cost of Rs 10. There will be scholarships for tribal students to study abroad. Every ten tribal students on merit basis will be selected under scholarship to study overseas.