“Between the years 2020-21 and 2023-24, Jharkhand grew at an average annual rate of 9.1%, while the country grew at an average annual rate of 8.3%,” it said.
The survey, tabled in the assembly by Finance Minister Radha Krishna Kishore, gave a positive indication of the state’s intention to make Jharkhand a ₹10-trillion economy (₹10 lakh crore) by 2029-30.
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“The economy of Jharkhand has grown steadily in the last three years. It is estimated to grow by 6.7% in the current financial year of 2024-25 and by 7.5% in the next financial year of 2025-26.
“The economy at current prices has been estimated to be ₹4,61,010 crore in the year 2023-24. If it grows at the rate of 14.2% per annum, it will exceed ₹10 lakh crore by the year 2029-30,” the survey said.
The past performance of the state’s economy gives the confidence that a 14.2% growth in its nominal GSDP (GSDP at current prices) is achievable, it said.
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The state government, during the previous budget of 2024-25, had expressed its intention of making Jharkhand a ₹10-trillion economy by 2029-30.
The survey said that the per capita income of the state is one of the lowest in the country.
It has ranked 26th amongst the 28 states in the year 2022-23. It is only ahead of Bihar and Uttar Pradesh, the survey said.
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“The per capita income of the state is estimated to be ₹68,612 at constant prices and ₹1,14,271 at current prices in 2024-25 and ₹72,836 at constant prices and ₹1,24,079 at current prices in 2025-26,” it stated.
The inflation rate has mostly remained within the limit of 6%, which is RBI’s stipulated upper limit, it said.
“The average rate of inflation in Jharkhand was 5.7% in the year 2023-24 and this year (up to October 2024), it is at 4%,” the survey stated.
