E-Paper
‘Target to double GSDP in 5 yrs; Centre meting out stepmotherly treatment’
Jharkhand aims to double its GSDP to ₹10.32 lakh crore in five years, targeting 14% growth, despite alleging insufficient central government support.
The state government was targeting to double up the gross state domestic product (GSDP) in the next five years, finance minister Radha Kirshna Kishore said on Tuesday, even as the Congress leader accused the Centre of stepmotherly treatment to Jharkhand by not providing adequate financial assistance to it.
Speaking about the prevailing state of the Jharkhand economy, the finance minister said the GSDP of the state was ₹5.16 lakh crore in 2024-25 and the government was making all efforts to double it in the next five years, for which the state economy would have to grow at 14 per cent on current prices, and around 9-10 per cent at constant prices. To be sure, the budgetary proposals have pegged a growth rate of 6.90 per cent at constant prices for 2026-27
The minister, however, argued that clocking the 14 per cent growth rate at current prices was achievable. “Between 2011-12 to 2024-25, the state grew at an average rate of 9 per cent on current prices. In these 11 years, the state grew at the rate of 14 per cent at current prices in five financial years,” the minister said in his speech, adding that all determinants factored in to achieve such a target were available in the state.
“The target of 14.1 per cent could be achieved by optimum use of the available resources, neutralising external factors, especially mitigating droughts, besides pushing development measures. Agriculture, industry, development of infrastructure and banking sectors, health, education and skill development would serve as growth engines,”he said.
Underlining that states can’t develop without the cooperation of the Centre, he accused the latter of meting out stepmotherly treatment to Jharkhand for being a non-BJP ruled state. The minister, however, said the Hemant Soren government won’t bow and move forward to ensuring the all-round development of the state despite ‘hurdles being created by the Opposition’.
“The Centre is meting out stepmotherly treatment to Jharkhand by not providing adequate financial assistance to it. The state did not get the central tax share of ₹5,000 crore and ₹11,000 crore in grants-in-aid. The share of central taxes is gradually declining. The state has to bear an additional ₹5,640 crore due to the VB-G RAM G (Act),” he claimed.
He also hit out at the Centre for ‘not clearing dues to the tune of ₹1.36 lakh crore’ in lieu of coal supply to central PSUs.
