Jharkhand State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Jharkhand FY 2023-24
Jharkhand State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 95,229 crore
+35.1%
Total Expenditure
Rs 1.12 lakh crore
+25.6%
Fiscal Deficit
2.7%
Rs 11,691 crore
Capital Expenditure
Rs 21,674 crore
+33.8%
Tax Revenue
Rs 28,710 crore
+25.9%
Interest Payments
Rs 7,499 crore
7% of expenditure
Jharkhand Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
Jharkhand Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Jharkhand 2023-24
The fiscal deficit for Jharkhand in 2023-24 is 2.7% of GSDP (Rs 11,691 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Jharkhand is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 7,499 crore consume 6.7% of total expenditure.
Jharkhand State Budget 2023-24 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 1.21 lakh crore | 100% |
| 1. Revenue Receipts | Rs 95,229 crore | 79.0% |
| a. Own Tax Revenue | Rs 28,710 crore | 23.8% |
| b. Non-Tax Revenue | Rs 16,116 crore | 13.4% |
| B. Total Expenditure | Rs 1.12 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 88,093 crore | 78.5% |
| 2. Capital Expenditure | Rs 21,674 crore | 19.3% |
| of which: Interest Payments | Rs 7,499 crore | 6.7% |
| C. Fiscal Deficit | Rs 11,691 crore | 2.7% of GSDP |
Source: Jharkhand State Budget Documents via PRS India. All figures in Indian Rupees.
Jharkhand Department-wise Expenditure 2023-24
Top departments by allocation in Jharkhand for 2023-24
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 12,500 crore | Rs 1,500 crore | Rs 14,000 crore | 12.5% |
2. Rural Development | Rs 9,000 crore | Rs 2,800 crore | Rs 11,800 crore | 10.5% |
3. Health & Family Welfare | Rs 6,400 crore | Rs 1,800 crore | Rs 8,200 crore | 7.3% |
4. Energy | Rs 5,200 crore | Rs 2,100 crore | Rs 7,300 crore | 6.5% |
5. Agriculture & Allied | Rs 5,000 crore | Rs 1,000 crore | Rs 6,000 crore | 5.3% |
6. Transport & Roads | Rs 2,500 crore | Rs 3,100 crore | Rs 5,600 crore | 5.0% |
7. Social Welfare | Rs 4,500 crore | Rs 500 crore | Rs 5,000 crore | 4.5% |
8. Water Supply & Sanitation | Rs 2,200 crore | Rs 2,600 crore | Rs 4,800 crore | 4.3% |
9. Police & Home | Rs 4,200 crore | Rs 600 crore | Rs 4,800 crore | 4.3% |
10. Urban Development | Rs 2,600 crore | Rs 1,400 crore | Rs 4,000 crore | 3.6% |
Jharkhand Budget 2023-24 Analysis & Highlights
Key Highlights
- Revised expenditure at Rs 1,05,000 crore โ close to estimates as spending improved.
- Mining revenue exceeded projections as coal prices remained elevated.
- Fiscal deficit at Rs 13,000 crore โ 2.9% of GSDP.
- Capital expenditure at Rs 22,000 crore focused on road and power infrastructure.
- Hemant Soren arrested in January 2024 โ Champai Soren served as interim CM.
- Tribal welfare maintained at Rs 8,000 crore despite political uncertainty.
- DMF fund utilisation improved to 65% from earlier 40% levels.
- Education spending at Rs 13,000 crore with teacher recruitment drives.
- Health system expansion continued but remained below critical thresholds.
- Outstanding debt at Rs 72,000 crore with healthy debt-to-GSDP ratio.
Compare Jharkhand Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 89,400 crore | Rs 1.12 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 70,500 crore | Rs 95,229 crore |
| Capital Expenditure | โ | โ | โ | Rs 16,200 crore | Rs 21,674 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.4% | 2.7% |
| Own Tax Revenue | โ | โ | โ | Rs 22,800 crore | Rs 28,710 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Jharkhand State Budget 2023-24
The Jharkhand state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Jharkhand Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
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Compare Jharkhand with other states
Side-by-side comparison of fiscal metrics across Indian states