Finance Minister Participates in "Financing the Journey of Developed India" Program, Advocates for Prioritizing Backward States

New Delhi. At the two-day conference "Financing the Journey of Developed India" organized by the Ministry of Finance, Government of India, at Bharat Mandapam, New Delhi, Jharkhand Finance Minister Shri Radhakrishna Kishore, highlighting the state's interests, stated that to make India a developed nation, it is imperative to provide special support to economically backward states, rising above party politics. This conference was held on September 18-19 in the presence of the Union Finance Minister and finance ministers of all states/union territories. In his address, the Finance Minister said that the goal of a developed India by 2047 should not be limited to a strong economy alone, but should also be based on building an egalitarian and empowered society. He clarified that per capita income, GDP, manufacturing output, and financial figures are not meaningful unless the true economic and social condition of society is adequately assessed. Expressing concern over current politics, he said that division based on caste and religion is a hindrance to the overall development of the country. India's per capita income is still significantly lower than that of the top global countries, and income inequality is a major challenge. Citing data from NITI Aayog, he said that claims of poverty alleviation should be more effective at the ground level. Emphasizing the agricultural sector, the minister said that 70% of the country's population lives in villages, and half of the farming depends on rainfall. Therefore, it is necessary to increase financing in areas like irrigation, dairy farming, fisheries, and animal husbandry. He also emphasized the need to prioritize investment in health and education. In the context of Jharkhand, he said that due to the central government's policies, the state is facing a potential economic loss of Rs 20,000 to Rs 22,000 crore. Amendments in the mining sector and tax policies have adversely affected the state's revenue. However, mentioning Jharkhand's financial achievements, he stated that the state is included in the 'Achiever' category of NITI Aayog, revenue collection is strong, fiscal deficit is under control, and capital expenditure remains high. In conclusion, he put forward three major demands to the central government: the right to impose cess on mining should be restored, compensation for losses incurred due to GST should be provided, and the 90:10 ratio in the G-RAM-G scheme should be reinstated. He said that India can become developed only when states become empowered.

The delegation that participated in the "Financing the Journey of Developed India" program included Jharkhand Finance Secretary Mr. Prashant Kumar, Additional Secretary Mr. Karn Satyarthi, Joint Secretary Mr. Chandrabushan Prasad, Officer on Special Duty to the Hon'ble Minister Mr. Anirban Aich, and Officer on Special Duty to the Hon'ble Minister Mr. Narendra Kumar.