Jharkhand's Bold Revenue Strategy: Learning from Odisha's Mining Success

Jharkhand Finance Minister Radhakrishna Kishore plans to send a team to Odisha to study its mining revenue strategies. Despite having 40% of India's mineral reserves, Jharkhand generates significantly less revenue than Odisha. Kishore aims to leverage mining to fund welfare initiatives for rural development.

In a bold move to boost state revenues, Jharkhand's Finance Minister Radhakrishna Kishore announced plans to send a team to Odisha to examine their efficient mining revenue strategies. Despite possessing 40% of India's mineral reserves, Jharkhand's income from mining significantly trails behind Odisha's.

Kishore, who recently took office, is optimistic about increasing funds from the mining sector, aiming to utilize the additional revenue to support various welfare initiatives designed to improve the economic conditions of rural residents. Such initiatives include the Maiyan Samman Yojana, which provides financial aid to rural women.

The minister is focused on optimizing the state budget in light of recent electoral expenditures and plans to reallocate unspent department funds to prioritize essential welfare programs. This concerted effort aligns with the broader goal of fostering inclusive growth and providing necessary resources to the state's underprivileged communities.

(With inputs from agencies.)