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regular-article-logo Sunday, 14 April 2024

Big relief for farmers as Jharkhand government focus on rural economy in 2024-25 budget

The Champai Soren-led government has decided to increase the loan waiver from Rs 50,000 to Rs 2 lakh. It was also announced that farmers holding NPA (non-performing assets) accounts would also be included under this scheme

Animesh Bisoee Jamshedpur Published 28.02.24, 08:24 AM
Finance minister Rameshwar Oraon hands over a copy of the budget to chief minister Champai Soren at the Jharkhand Assembly on Tuesday.

Finance minister Rameshwar Oraon hands over a copy of the budget to chief minister Champai Soren at the Jharkhand Assembly on Tuesday. Picture by Manob Chowdhury

Jharkhand finance minister and retired IPS officer Rameshwar Oraon in the budget for the fiscal 2024-25 focused on the rural economy, farmers, women and education, indicating that the Champai Soren-led government is continuing with former chief minister Hemant Soren’s advice.

Incidentally, Hemant Soren during a review meeting of budget preparation on January 8 (he was arrested on January 31 by the Enforcement Directorate) had asked bureaucrats to focus on rural economy, farmers, women, youth and education.

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“When we tabled our first budget for fiscal 2019-20 the budget was for Rs 85,429 crore. In five years, the budget (Rs 1,28,900 crore) has increased by 51 per cent which is the result of prudent economic provisions. The state GDP is nearly four trillion and we have set a target to increase it by 10 trillion (Rs 10 lakh crore) by 2030. It is challenging but the government is confident of attaining it,” said Oraon, who tabled his fifth budget at the Assembly on Tuesday.

The finance minister said that the state’s growth rate in the next financial year is estimated to be 7.7 per cent.

The budgetary estimates were up by over 10 per cent from the previous annual financial statement. The JMM-led coalition government had presented a budget of Rs 1.16 lakh crore for the current financial year 2023-24.

The budget gives a big relief for the farmers, most of whom had to face parched conditions during monsoon for the second time last year.

The government has decided to increase the loan waiver from Rs 50,000 to Rs 2 lakh. It was also announced that farmers holding NPA (non-performing assets) accounts would also be included under this scheme with the finance minister keeping a provision of Rs 40,606.57 crore for agriculture and animal husbandry.

The finance minister also announced that pregnant women will get maternal kits worth Rs 1,500 which will contain mosquito nets, clothes for mother and child, oil, soap, bucket, mug etc.

A budget allocation of Rs 8,021.93 crore has been kept for women, children and social security.

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