Raghubar Das, the Chief Minister of Jharkhand, on 23 January 2017 presented the annual state budget 2017-18 in the legislative assembly. Size of the budget for the financial year 2017-18 is Rs 75673 crore.
The budget primarily focuses on villages, poor and industry. While presenting the budget, the Chief Minister said that the government will aim at developing agriculture, education and modern amenities in towns and villages.
Highlights of the 2017-18 Jharkhand Budget
• This year Budget outlay is about 19 percent higher than 2016-17.
• The fiscal deficit is 2.29 per cent and Budget overall deficit is within 2.5 per cent - both of these are under permissible limits.
• Capital expenditure was increased by 21 per cent
• Revenue expenditure was increased by 18.66 per cent
• Women welfare expenditure, which will be increased by 30 per cent, was presented under a sub-head of "Gender Budget".
• Outlay for Agriculture: It was increased to Rs 5375 crore, that is, by 12 per cent
• Budget allocation for skill development: The allocation has seen a massive jump from Rs 145 crore in the current financial year 2016-17 to Rs 704 crore for 2017-18.
In addition to all these, while delivering the Budget speech, Chief Minister Raghuwar Das said that budget period for 2017-18 will be called the "Garib Kalyan Varsha."
Besides, the Chief Minister in his budget speech also proposed formations of various authorities like Tana Bhagat Development Authority and Jharkhand Irrigation Commission. He also proposed an idea of creating five new Universities of which two from public fund and three from private sector.