Jharkhand News: Finance Department Initiates Budget Preparation for FY 2025-26

Ranchi, October 27, 2024: The Finance Department has commenced preparations for the upcoming budget for the financial year 2025-26. In a recent directive, the department has instructed all additional chief secretaries, principal secretaries, secretaries and heads of departments to start drafting proposals for the new fiscal budget, emphasizing a strategic approach considering the state’s limited resources.

The directive, issued by the Finance Department, also calls for the formulation of revised estimates for the financial year 2024-25. The letter highlights the need to focus on sustainable and inclusive development while allocating resources for the upcoming fiscal year. Departments have been urged to prioritize state government initiatives and ensure that budget proposals align with the broader vision of sustainable growth.

The department’s statement emphasizes that careful planning is essential due to constrained resources, making it vital to prioritize key sectors. Departments are expected to submit budgetary requirements while considering the government’s emphasis on prudent financial management. This approach will help streamline funding and focus on critical areas, balancing economic growth with social development goals.

Furthermore, the Finance Department’s early start on budget preparations underscores the administration’s commitment to structured and transparent fiscal planning. This proactive measure is aimed at ensuring that essential projects receive timely funding, reflecting the government’s intent to drive economic progress efficiently.

The Finance Department will continue to monitor and assess departmental submissions, ensuring that the final budget plan reflects the state’s financial priorities and growth ambitions.