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Module 14 • Economic Survey & Fiscal Fund2026-05-1512 min read

Jharkhand Economic Survey 2025–26, Per-Capita Income & Budget Stabilisation Fund

Target Exam: JPSC Combined Civil Services•Official Sources: Jharkhand State Gazettes, Budget & Official ReleasesJharkhand State Gazettes, Budget & Official Releases

1. Jharkhand Economic Survey 2025–26: The Macroeconomic Growth Trajectory

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Real GSDP Doubling (2011–12 to 2024–25):
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Real GSDP in 2011–12: ₹1,50,918 crore.
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Real GSDP in 2024–25: ₹3,03,178 crore (a landmark doubling of real economic output).
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Nominal GSDP in 2024–25: ₹5,16,255 crore.
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Real Growth Rate in 2024–25: 7.02%, outperforming the national GDP growth rate of 6.5%.
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Post-Pandemic Compound Growth: Real CAGR between 2020–21 and 2024–25 reached an impressive 8.4%.
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Projections for 2025–26:
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Real GSDP: Projected at ₹3,21,892 crore (projected real growth of 6.17%).
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Nominal GSDP: Projected at ₹5,61,010 crore.

2. Per-Capita Income: Crossing the ₹1 Lakh Milestone

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Current Prices (Nominal Per-Capita Income):
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In 2024–25, Jharkhand's per-capita income at current prices crossed the psychological threshold of ₹1 lakh for the first time, reaching ₹1,16,663.
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Projected to expand to ₹1,25,677 in 2025–26.
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Constant 2011–12 Prices (Real Per-Capita Income):
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Reached ₹68,357 in 2024–25.
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Strategic Development Narrative:
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Transition from an extractive, raw-mineral dependent economy into value-added manufacturing, clean energy, service sectors, and tribal human resource capital.

3. Jharkhand State Budget 2026–27: Fiscal Framework & Capex Priorities

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Key Macro-Fiscal Aggregates:
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Projected Nominal GSDP (2026–27): ₹6,24,868 crore.
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Total Expenditure (excluding debt servicing): ₹1,50,106 crore.
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Revenue Receipts (excluding debt/borrowings): ₹1,36,510 crore.
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Revenue Surplus: ₹15,358 crore (representing 2.5% of GSDP).
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Fiscal Deficit: Maintained prudently at 2.2% of GSDP (₹13,596 crore), comfortably within the 3.0% FRBM limit.
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Key Sectoral Allocations:
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Education, Sports, Arts & Culture: ₹19,320 crore (highest social sector allocation).
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Agriculture & Allied Activities: ₹6,468 crore.

4. Fiscal Innovation: The ₹1,209 Crore Budget Stabilisation Fund

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The Structural Challenge: Jharkhand's revenues are highly dependent on royalties, auctions, and cess derived from coal, iron ore, and other minerals, making state finances vulnerable to global commodity price cycles.
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The Policy Solution: The state established a dedicated Budget Stabilisation Fund of ₹1,209 crore to buffer treasury spending during years of depressed commodity prices.
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Cess on Mineral-Bearing Land:
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Estimated to yield ₹14,656 crore in 2026–27, up from ₹13,442 crore in 2025–26 revised estimates, following landmark Supreme Court judgments validating states' powers to tax mineral land.
Key Examination Takeaways:
  • Jharkhand's real GSDP doubled from ₹1,50,918 crore (2011–12) to ₹3,03,178 crore (2024–25), growing at 7.02% in real terms.
  • Per-capita income at current prices crossed ₹1 lakh for the first time, reaching ₹1,16,663 in 2024–25 and projected at ₹1,25,677 in 2025–26.
  • State Budget 2026–27 projects GSDP of ₹6,24,868 crore with a ₹15,358 crore revenue surplus (2.5% of GSDP) and 2.2% fiscal deficit.
  • Jharkhand created a ₹1,209 crore Budget Stabilisation Fund to cushion state public finances against mining royalty volatility.
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Q1

According to the Jharkhand Economic Survey 2025–26, what was the estimated Real GSDP of Jharkhand at constant 2011–12 prices for the fiscal year 2024–25?

Q2

What was the real economic growth rate of Jharkhand in 2024–25 as reported in the Economic Survey, and how did it compare with national real GDP growth?

Q3

For the first time in Jharkhand's history, the state's per-capita income at current prices crossed ₹1 lakh in 2024–25. What was the exact figure recorded?

Q4

What is the projected nominal GSDP of Jharkhand for the financial year 2026–27 as per the state budget estimates?

Q5

With what initial corpus has the Government of Jharkhand constituted the 'Budget Stabilisation Fund' to protect state spending from mining revenue volatility?

Q6

What is the estimated revenue surplus in the Jharkhand State Budget 2026–27 as a percentage of GSDP?

Q7

What is the projected fiscal deficit of Jharkhand in the 2026–27 Budget, expressed as a proportion of GSDP?

Q8

How much revenue is estimated from cess on mineral-bearing land in Jharkhand's 2026–27 State Budget?

Q9

Which sector received the largest social-sector budgetary allocation of ₹19,320 crore in the Jharkhand Budget 2026–27?

Q10

What was the compound annual growth rate (CAGR) of Jharkhand's real GSDP during the post-pandemic recovery period from 2020–21 to 2024–25?

Q11

What was Jharkhand's real per-capita income at constant 2011–12 prices in 2024–25 according to the Economic Survey?

Q12

What was the total expenditure outlay (excluding debt repayments) passed in the Jharkhand State Budget 2026–27?

Q13

What is the projected per-capita income at current prices for Jharkhand in the fiscal year 2025–26?

Q14

How much was allocated to Agriculture and Allied activities in the Jharkhand Budget 2026–27?

Q15

Why is the creation of a 'Budget Stabilisation Fund' considered an exemplary fiscal governance reform for mineral-rich states like Jharkhand?

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