States » EastPosted at: Sep 19 2026 7:28PM


Jharkhand: Finance Minister seeks three fiscal measures from Centre

Ranchi/New Delhi, Sep 19 (UNI) Jharkhand Finance Minister Radha Krishna Kishore on Saturday sought restoration of the state's power to levy cess on mining, compensation for GST-related losses, and restoration of the 90:10 funding ratio under the G-RAM-G scheme.
Addressing the two-day conference on “Financing the Journey towards Viksit Bharat” at Bharat Mandapam in New Delhi, Kishore said economically backward states needed special support for India to achieve the goal of becoming a developed nation by 2047.
The conference was organised by the union Finance Ministry on Sep 18-19 in the presence of the union Finance Minister and finance ministers of states and union Territories.
Kishore said the development goal should go beyond economic indicators and focus on building an equitable and empowered society. He stressed greater investment in irrigation, dairy, fisheries, animal husbandry, health and education, particularly in view of rural India's dependence on agriculture.
Referring to Jharkhand, he said the state could face a potential economic loss of Rs 20,000 crore to Rs 22,000 crore due to Central policies, particularly changes in the mineral sector and tax policies.
He, however, said Jharkhand had been placed in the 'Achiever' category by NITI Aayog, while its revenue collection remained strong, fiscal deficit was under control and capital expenditure remained at a high level.
Kishore said the restoration of the power to levy cess on mining, compensation for losses arising from GST and restoration of the 90:10 funding ratio under the G-RAM-G scheme were necessary to strengthen states.
He said stronger states were essential for building a developed India.
UNI SSI RN
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