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Jharkhand's budget hits record high at Rs 1.28 lakh crore, farmers get major relief

Finance Minister Rameshwar Oraon presents Jharkhand's budget for FY 2024, totaling Rs 1.28 lakh crore in Election year
Key highlight includes an expansion of the farmer loan waiver scheme, raising the limit from Rs 50,000 to Rs 2 lakh
Budget sees a 3.7% increase compared to the previous year, with a projected economic growth rate of 7.7%

Jharkhand's budget hits record high at Rs 1.28 lakh crore, farmers get major relief

During the ongoing budget session in the Jharkhand Assembly, Finance Minister Rameshwar Oraon has presented the state's budget for the fiscal year 2024. The budget, totaling Rs 1.28 lakh crore, marks the fifth consecutive presentation by Minister Oraon.

Among the notable highlights of this year's budget is a significant boost for farmers, with the government announcing an expansion of the loan waiver scheme. The threshold for loan waivers has been raised from Rs 50,000 to Rs 2 lakh, encompassing farmers with Non-Performing Asset (NPA) accounts.

This year's budget represents a 3.7% increase from the previous fiscal year, reflecting a growing financial commitment towards the state's development. In comparison to the previous year's budget of Rs 1.16 lakh crore, the current allocation aims to propel economic growth, projected at 7.7%. The budgetary provisions underscore the government's focus on bolstering agricultural support systems and fostering economic resilience in Jharkhand.

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