Jharkhand's Finance Minister to Send Team to Odisha for Mining Revenue Improvement Strategies

Jharkhand's Finance Minister, Radhakrishna Kishore, announced plans to send a team to Odisha to study its mining revenue strategies. Jharkhand, holding 40% of India's mineral reserves, earns only Rs 11,000-12,000 crore annually from mining. In contrast, Odisha generates about Rs 40,000 crore. Kishore emphasised the need to boost Jharkhand's mining revenue through strategic efforts.

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Kishore, who assumed office on Friday, oversees the Finance, Commercial Tax, Planning and Development, and Parliamentary Affairs Departments. He highlighted that Jharkhand's separation aimed at rural economic and social development remains unfulfilled. Under Hemant Soren's leadership, initiatives like the Maiyan Samman Yojana have been launched to empower rural residents.

Revenue Enhancement Strategies

The minister plans to instruct senior officials to dispatch a team of mining experts to Odisha. Their mission is to learn how Odisha maximises its mining sector revenue and identify applicable strategies for Jharkhand. Kishore believes that even minor efforts in this sector could significantly increase state revenue.

Addressing rural poverty, Kishore noted many households lacked basic food security. The government provided food security and linked women to the Maiyan Samman Yojana. Initially offering Rs 1,000 monthly, this scheme now provides Rs 2,500 per month to reduce financial dependency for healthcare and other needs.

Budget Management Amidst Elections

Jharkhand faced two elections this year, impacting budget expenditure due to the model code of conduct. Kishore stated that departments spending up to 20% of their allocations must return a portion of funds. This ensures they can utilise the remaining budget effectively in the next three months.

Departments that spent up to 40% are required to return at least 5% of their funds. These reclaimed funds will support welfare schemes like the Maiyan Samman Yojana. The minister assured that funding for these initiatives would be managed within the state budget.

Kishore reiterated the importance of these measures in achieving the state's developmental goals. By learning from Odisha's success and optimising budget allocations, Jharkhand aims to enhance its economic stability and improve rural livelihoods.