Jharkhand finance minister Rameshwar Oraon tabled the state's budget, worth Rs 1,01,101 crore, for the upcoming 2022-23 fiscal on Thursday, banking heavily on social schemes like generous student loans (Guriji Credit Card Yojana) and free power for the poor.

Oraon's budget speech also briefly touched upon urban aspirations wherein he announced plans for setting up an airport in Sahebganj district, converting a biodiversity park in Ranchi to an eco-tourism hub and devising a comprehensive mobility plan and a cultural centre in capital Ranchi.

STATE BUDGET HIGHLIGHTS

• Guruji Credit Card Yojana for study loans for the poor

• 100 units of free electricity for poor farmers

• Airport at Sahebganj district

• One-time state subsidy of Rs 50,000 to PMAY beneficiaries

• 64 lakh families with ration cards to get 1 kg pulses at Rs 1 each/month

• Marang Gomke Jaipal Singh Munda Scholarship (foreign studies) to be extended to SC, OBC and minority communities

• CM Sarathi Scheme for training students to face competitive examinations

• Woolen clothes for children at Anganwadi centers

He said the focus of the budget was to boost the economy with emphasis on infrastructure development, creation of job opportunities for youth and women, welfare of farmers and the marginalised sections of society.

“We now propose to start a new scheme named Guruji Credit Card Yojana to provide soft loans to the poor and deserving students who fail to get bank loans to pursue higher education. Many students from tribal and marginalised backgrounds fail to get bank assistance for higher studies. Even if their parents manage loans, they have to take on heavy mortgages. To address those challenges, the government has started this credit card scheme,” he said, but did not elaborate details.

Sources in the government said the scheme would be run by the state higher and technical education department under which BPL students would be provided soft loans of up to Rs 10 lakh for higher studies. “They can repay it in small installments in 15 years,” said an official, adding that the government will announce allocation and its modalities in due course in time.

The government has estimated a fiscal deficit of Rs 11,286.47 crore which will be 2.81% of the GSDP pegged at 6.15 per cent for 2022-23.

Oraon also announced another ambitious scheme titled, CM Sarthi Yojana, wherein the government would train/assist 1 lakh graduates through various interventions for competitive/professional exams and skill development.

To boost agriculture, the budget proposed launching the Agri Smart Programme. “In the first phase, 100 villages will be selected on the recommendation of local MLAs for undertaking gap analysis survey of those hamlets for rolling out focused development projects,” said Oroan, adding that the government has also proposed purchasing cow dung directly from farmers to boost their income and generate biomass.

The state government, he said, would lay stress on rural jobs (MNREGA). “We have proposed to create 12.50 crore man-days under MNREGA,” said Oraon.

The state government has also earmarked special funds to the tune of Rs 50,000 per beneficiary for construction of an additional room under the centrally sponsored Prime Minister Awas Yojana (rural). “This will be in addition to the state and central share which is being given,” he said.

This year’s Jharkhand Budget volume is about 11 per cent higher than the last fiscal which was worth Rs 91,277 crore. Of the total budget, the state government has proposed revenue expenditure of Rs 76,273.30 crore and capital expenditure of Rs 24,827.70 crore.

Sectoral allocations included Rs 31,896.64 crore (general), Rs 37,313.22 crore (social) and Rs 31,891.14 crore (financial).

He said that despite covid-19 pandemic, the state’s economy showed resilience to beat the after-effects of the economic slowdown due to "out of the box" thinking by the state government to generate resources and ensure fiscal discipline. “As a result of which, Jharkhand's gross state domestic product for this fiscal is estimated to record 8.8 per cent and for next fiscal it will be 6.15 per cent,” he said.

Citing how the coalition government of JMM-Congress-RJD has been focusing on upliftment of the poor since Day One, Oraon said that some of the schemes, like farm loan waivers, petrol subsidy scheme, universal pension scheme, etc, wwre a reflection of its commitment.

Jharkhand finance minister Rameshwar Oraon tabled the state's budget, worth Rs 1,01,101 crore, for the upcoming 2022-23 fiscal on Thursday, banking heavily on social schemes like generous student loans (Guriji Credit Card Yojana) and free power for the poor.

Oraon's budget speech also briefly touched upon urban aspirations wherein he announced plans for setting up an airport in Sahebganj district, converting a biodiversity park in Ranchi to an eco-tourism hub and devising a comprehensive mobility plan and a cultural centre in capital Ranchi.

He said the focus of the budget was to boost the economy with emphasis on infrastructure development, creation of job opportunities for youth and women, welfare of farmers and the marginalised sections of society.

“We now propose to start a new scheme named Guruji Credit Card Yojana to provide soft loans to the poor and deserving students who fail to get bank loans to pursue higher education. Many students from tribal and marginalised backgrounds fail to get bank assistance for higher studies. Even if their parents manage loans, they have to take on heavy mortgages. To address those challenges, the government has started this credit card scheme,” he said, but did not elaborate details.

Sources in the government said the scheme would be run by the state higher and technical education department under which BPL students would be provided soft loans of up to Rs 10 lakh for higher studies. “They can repay it in small installments in 15 years,” said an official, adding that the government will announce allocation and its modalities in due course in time.

The government has estimated a fiscal deficit of Rs 11,286.47 crore which will be 2.81% of the GSDP pegged at 6.15 per cent for 2022-23.

Oraon also announced another ambitious scheme titled, CM Sarthi Yojana, wherein the government would train/assist 1 lakh graduates through various interventions for competitive/professional exams and skill development.

To boost agriculture, the budget proposed launching the Agri Smart Programme. “In the first phase, 100 villages will be selected on the recommendation of local MLAs for undertaking gap analysis survey of those hamlets for rolling out focused development projects,” said Oroan, adding that the government has also proposed purchasing cow dung directly from farmers to boost their income and generate biomass.

The state government, he said, would lay stress on rural jobs (MNREGA). “We have proposed to create 12.50 crore man-days under MNREGA,” said Oraon.

The state government has also earmarked special funds to the tune of Rs 50,000 per beneficiary for construction of an additional room under the centrally sponsored Prime Minister Awas Yojana (rural). “This will be in addition to the state and central share which is being given,” he said.

This year’s Jharkhand Budget volume is about 11 per cent higher than the last fiscal which was worth Rs 91,277 crore. Of the total budget, the state government has proposed revenue expenditure of Rs 76,273.30 crore and capital expenditure of Rs 24,827.70 crore.

Sectoral allocations included Rs 31,896.64 crore (general), Rs 37,313.22 crore (social) and Rs 31,891.14 crore (financial).

He said that despite covid-19 pandemic, the state’s economy showed resilience to beat the after-effects of the economic slowdown due to "out of the box" thinking by the state government to generate resources and ensure fiscal discipline. “As a result of which, Jharkhand's gross state domestic product for this fiscal is estimated to record 8.8 per cent and for next fiscal it will be 6.15 per cent,” he said.

Citing how the coalition government of JMM-Congress-RJD has been focusing on upliftment of the poor since Day One, Oraon said that some of the schemes, like farm loan waivers, petrol subsidy scheme, universal pension scheme, etc, wwre a reflection of its commitment.