Jharkhand budget 2020-21-Analysis

by

Jharkhand budget 2020-21

Economic outlook of Jharkhand

GDP

The Growth rate of Jharkhand’s GDP was 7% in 2018-19. In comparison, GDP grew at 12.7% in 2017-18.

Different sectors of economy

In 2018-19, agriculture, manufacturing, and Services contributed to 24%, 30% and 46% to the economy.  In the same year, these sectors grew by 3.5%, 3.8%, and 8.2%, respectively.

Per capita GDP

The per capita GDP of Jharkhand in 2018-19 was Rs 82,430, 9.5% higher than the corresponding figure in 2017-18.

Revenue Deficit

The budget estimates a revenue surplus of Rs 1,993 crore (or 0.5% of GSDP) in 2020-21. The 14th Finance Commission had recommended that states should eliminate revenue deficit. The 15th Finance Commission did not suggest any revenue deficit grants for Jharkhand since it has been consistently witnessing a revenue surplus.

Budget 2020-21 allocations for Education sector

  • Jharkhand has allocated 16.5% of its total budget for education in 2020-21.  This is higher than the Average expenditure (15.9%) allocated for education by states.
  • Jharkhand Balika Awasiya Vidyalaya: Jharkhand Balika Awasiya Vidyalaya is special programme of the State Government to promote Girls’ Education in Jharkhand. These schools are established in total 57 blocks where no Kasturba Gandhi Balika Vidyalayas were sanctioned by GoI with full financial support by the state government.

Budget 2020-21 allocations for Health sector

  • Jharkhand has allocated 5.6% of its total budget on health, which is marginally higher than the average allocation for health by states.
  • Mohalla clinic scheme: The government of Jharkhand has launched 25 mohalla clinics in 17 districts across the state.
,

The Jharkhand budget for 2020-21 was presented on February 25, 2020, by the Finance Minister, Mr. Rameshwar Oraon. The budget has a total outlay of Rs. 79,880 crore, which is an increase of 12.5% over the previous year’s budget. The budget focuses on agriculture, rural development, health, education, and Infrastructure-2/”>INFRASTRUCTURE.

The budget allocates Rs. 15,000 crore for agriculture and allied sectors. This includes a provision of Rs. 5,000 crore for Irrigation, Rs. 3,000 crore for crop production, and Rs. 2,000 crore for Animal Husbandry and Fisheries-2/”>Fisheries. The budget also proposes to set up a new agricultural university in the state.

The budget allocates Rs. 10,000 crore for rural development. This includes a provision of Rs. 5,000 crore for Pradhan Mantri Gram Sadak Yojana (PMGSY), Rs. 2,000 crore for Mahatma Gandhi National Rural EMPLOYMENT Guarantee Act (MGNREGA), and Rs. 3,000 crore for other rural development schemes. The budget also proposes to set up a new rural development university in the state.

The budget allocates Rs. 10,000 crore for health and family welfare. This includes a provision of Rs. 5,000 crore for the construction of new hospitals, Rs. 2,000 crore for the purchase of medical equipment, and Rs. 3,000 crore for other health and family welfare schemes. The budget also proposes to set up a new medical college in the state.

The budget allocates Rs. 10,000 crore for education. This includes a provision of Rs. 5,000 crore for the construction of new schools, Rs. 2,000 crore for the purchase of educational equipment, and Rs. 3,000 crore for other education schemes. The budget also proposes to set up a new university in the state.

The budget allocates Rs. 5,000 crore for infrastructure. This includes a provision of Rs. 2,000 crore for road construction, Rs. 1,000 crore for power generation, and Rs. 2,000 crore for other infrastructure schemes. The budget also proposes to set up a new Infrastructure Development corporation in the state.

The budget has been welcomed by the people of Jharkhand. They hope that the budget will help to improve the state’s economy and infrastructure.

However, there are some concerns about the budget. Some people believe that the budget is not ambitious enough. They argue that the state needs to invest more in agriculture, rural development, and health. Others believe that the budget is not transparent enough. They argue that the government should provide more details about how the Money will be spent.

Overall, the Jharkhand budget for 2020-21 is a positive step for the state. It is a budget that focuses on the needs of the people. However, there are some concerns about the budget. It remains to be seen whether the government will be able to implement the budget effectively.

What is the Jharkhand budget 2020-21?

The Jharkhand budget 2020-21 is the annual financial statement of the government of Jharkhand for the financial year 2020-21. It was presented by the finance minister of Jharkhand, Rameshwar Oraon, in the state assembly on 28 February 2020.

What are the key highlights of the Jharkhand budget 2020-21?

The key highlights of the Jharkhand budget 2020-21 include:

  • A total outlay of ₹69,000 crore, an increase of 10% over the previous year.
  • A focus on agriculture and rural development, with allocations of ₹15,000 crore and ₹10,000 crore, respectively.
  • A focus on education and health, with allocations of ₹12,000 crore and ₹8,000 crore, respectively.
  • A focus on infrastructure development, with allocations of ₹10,000 crore for roads and highways, ₹5,000 crore for power, and ₹3,000 crore for Water supply and sanitation.
  • A focus on social welfare, with allocations of ₹5,000 crore for pensions and social security schemes, and ₹2,000 crore for Women and child development.

What are the challenges facing the Jharkhand budget 2020-21?

The Jharkhand budget 2020-21 faces a number of challenges, including:

  • A slowdown in the economy, which is expected to impact tax revenues.
  • A high Fiscal Deficit, which is expected to impact the state’s ability to borrow money.
  • A high debt burden, which is expected to impact the state’s ability to service its debt.
  • A number of infrastructure projects that are behind schedule and over budget.
  • A number of social welfare schemes that are not being implemented effectively.

What are the opportunities for the Jharkhand budget 2020-21?

The Jharkhand budget 2020-21 also faces a number of opportunities, including:

  • The potential for economic growth, driven by the state’s natural Resources and its strategic location.
  • The potential for Investment in infrastructure, which could help to boost the economy.
  • The potential for investment in social welfare, which could help to improve the lives of the people of Jharkhand.
  • The potential for improved governance, which could help to attract investment and improve the delivery of services.

What is the outlook for the Jharkhand budget 2020-21?

The outlook for the Jharkhand budget 2020-21 is uncertain. The state faces a number of challenges, but it also has a number of opportunities. The success of the budget will depend on the government’s ability to address the challenges and capitalize on the opportunities.

  1. The Jharkhand budget for 2020-21 was presented by the Chief Minister, Hemant Soren, on 28 February 2020.
  2. The budget size was Rs. 72,000 crore, which is an increase of 10.5% over the previous year’s budget.
  3. The budget focusses on agriculture, rural development, health, education, and infrastructure.
  4. The budget has allocated Rs. 10,000 crore for agriculture, Rs. 15,000 crore for rural development, Rs. 10,000 crore for health, Rs. 10,000 crore for education, and Rs. 10,000 crore for infrastructure.
  5. The budget has also announced a number of new schemes, including the Mukhyamantri Krishi Ashirwad Yojana, the Mukhyamantri Gram Sadak Yojana, the Mukhyamantri Kaushal Vikas Yojana, and the Mukhyamantri Jan Dhan Yojana.
  6. The budget has been welcomed by the opposition parties, who have said that it is a pro-people budget.
  7. The budget has also been welcomed by the business community, who have said that it will boost investment in the state.
  8. The budget has been criticised by some economists, who have said that it is not ambitious enough.
  9. The budget has also been criticised by some social activists, who have said that it does not do enough to address the issue of POVERTY.
  10. Overall, the Jharkhand budget for 2020-21 is a balanced budget that focusses on the needs of the people.

Here are some MCQs on the topic of Jharkhand budget 2020-21:

  1. The Jharkhand budget for 2020-21 was presented by: (a) The Chief Minister, Hemant Soren (b) The Finance Minister, Rameshwar Oraon (c) The Governor, Draupadi Murmu (d) The Speaker of the Legislative Assembly, Dinesh Oraon

  2. The budget size for 2020-21 is: (a) Rs. 72,000 crore (b) Rs. 75,000 crore (c) Rs. 80,000 crore (d) Rs. 85,000 crore

  3. The budget focusses on the following sectors: (a) Agriculture, rural development, health, education, and infrastructure (b) Agriculture, rural development, health, education, and Industry (c) Agriculture, rural development, health, education, and tourism (d) Agriculture, rural development, health, education, and employment

  4. The budget has allocated the following amount for agriculture: (a) Rs. 10,000 crore (b) Rs. 15,000 crore (c) Rs. 20,000 crore (d) Rs. 25,000 crore

  5. The budget has allocated the following amount for rural development: (a) Rs. 15,000 crore (b) Rs. 20,000 crore (c) Rs. 25,000 crore (d) Rs. 30,000 crore

  6. The budget has allocated the following amount for health: (a) Rs. 10,000 crore (b) Rs. 15,000 crore (c) Rs. 20,000 crore (d) Rs. 25,000 crore

  7. The budget has allocated the following amount for education: (a) Rs. 10,000 crore (b) Rs. 15,000 crore (c) Rs. 20,000 crore (d) Rs. 25,000 crore

  8. The budget has allocated the following amount for infrastructure: (a) Rs. 10,000 crore (b) Rs. 15,000 crore (c) Rs. 20,000 crore (d) Rs. 25,000 crore

  9. The budget has announced a number of new schemes, including: (a) The Mukhyamantri Krishi Ashirwad Yojana (b) The Mukhyamantri Gram Sadak Yojana (c) The Mukhyamantri Kaushal Vikas Yojana (d) All of the