The State Government has roped in Indian Institute of Management (IIM) Ranchi as a knowledge partner for preparing the budget. The decision to this effect was taken at State cabinet meeting on Wednesday. The State Cabinet on Wednesday gave its nod for nomination of IIM, Ranchi as knowledge partner for pre budget workshop on an annual fee of Rs 12.50 lakh.

The task of IIM Ranchi will be to collect feedback from people about the budget and based on people’s feedback and inputs of the institute, the management institute will provide necessary suggestions on how the budget will be.

People will provide inputs about the proposed budget in the portal ‘Harmar budget’. State Finance Minister RameshwarOroan said, “This is for the first time that the state government has joined hands with IIM Ranchi for preparing the budget. IIM, Ranchi as knowledge partner for pre budget workshop will collect people’s feedback. The initiative is for the first time as the government plans to prepare a budget which is for people. Feedback of all sections of society will be collected so that a better budget is prepared.”  

Meanwhile, IIM director Shailendra Singh said that IIM will collect feedback from all sections of society so that a better budget is prepared.

It has been decided to make the Annual Budget consultations more participatory and democratic by taking it closer to the people of State.  People can send their suggestions/feedback on the Hamar budget portal from January 17.

Prior to the State Government, the Union Finance Ministry decided to take suggestions from the general public for the forthcoming Union Budget 2021-22 through an online portal.

Last year, the Jharkhand government budget was of Rs 91,277 crore for the financial year 2021-22 with key focus on education and health sectors. The last budgetary allocations were made in three sectors namely general sector, social sector and economic sector. In last budgetary allocations, a bulk allocation

As far as budgetary allocations are concerned a bulk allocation of 14.52 percent was given to education, 14.16 percent to the rural development,  8.55 percent to health and drinking water, 8.33 percent to police and disaster management department,  8.05 to percent welfare and social welfare and 7.45 percent as pension. Sources said that this year too such provision will be made with focus on social and welfare sectors.

Last year, the state government introduced the scheme under which people were to get Sari, Dhoti and Lungi at cost of Rs 10. Jharkhand govt had also introduced scholarships for tribal students for abroad study. Every ten tribal students on merit basis will be selected under scholarship who will study in foreign countries.