Jharkhand Achieves 86% Revenue Target in FY''25

Ranchi, Apr 23 (PTI) Jharkhand Finance Minister Radhakrishna Kishore on Wednesday said that the state collected Rs 92,189.10 crore in revenue during the 2024-25 financial year (FY'25), achieving 86.16 per cent of the Rs 1,06,999.57 crore target.

Including non-tax receipts, the overall collection reached Rs 1,03,469.82 crore against a target of Rs 1,28,900 crore, he said.

Kishore said that the overall collection was "satisfactory", considering the impact of two elections—Lok Sabha and assembly polls—held last year, which affected revenue mop-up.

According to data provided by the minister, the share of central taxes mopped up till March 2025 was Rs 42,557.30 crore, achieving 105.50 per cent of the estimated collection of Rs 40,338.22.

The state received Rs 9,063 crore in grants-in-aid, which is only 53.43 per cent of the Rs 16,961 crore target, he said.

The minister said that the commercial taxes department collected Rs 22,292.25 crore against a target of Rs 26,000 crore for the financial year 2024-25, achieving 85.74 per cent of the annual estimate.

“For the financial year 2025-26, the commercial taxes department has set a target of Rs 26,500 crore in total revenue collection,” Kishore said while addressing the media.

Achievements in other sectors included land and revenue at 32.05 per cent, excise at 100.32 per cent, registration at 86.23 per cent, transport at 81.05 per cent, and mines at 77.37 per cent.

Regarding revenue expenditure, Kishore stated that Rs 1,18,279.69 crore was spent in the financial year 2024-25 against a total allocation of Rs 1,31,234.42 crore, representing 90.13 per cent of the total outlay.

The minister emphasised that necessary steps are being taken to strengthen the state's economic framework.

He also mentioned that the government reduced VAT (value-added tax) on bulk purchases of high-speed diesel for mining and industrial activities, expecting to increase volume and generate an additional Rs 500 crore annually.

Similarly, an increase in VAT on aviation turbine fuel is projected to yield an additional Rs 50 crore annually, Kishore added.