Jharkhand Economic Survey 2025-26: GSDP Doubles, Per Capita Income Crosses ₹1 Lakh for First Time

Ranchi: Jharkhand’s economy is showing strong momentum, with the Economic Survey 2025-26 highlighting a remarkable growth trajectory. According to the survey, the state’s Gross State Domestic Product (GSDP) has doubled between 2011-12 and 2024-25, while per capita income has crossed the ₹1 lakh mark for the first time. The survey also projects significant growth in both the services and agriculture sectors in the coming years.

Real GSDP Growth

Finance Minister Radhakrishna Kishore presented the Economic Survey in the Jharkhand Assembly during the budget session. He stated that the real GSDP at constant (2011-12) prices rose from ₹1,50,918 crore in 2011-12 to ₹3,03,178 crore in 2024-25. Jharkhand outperformed the national growth rate in four of the last seven years, and during the pandemic year, the state’s 5.3% contraction was lower than the national decline of 5.8%.

For 2025-26, the real GSDP is expected to reach ₹3,21,892 crore, and ₹3,41,064 crore in 2026-27, indicating growth of 6.17% and 5.96%, respectively. At current prices, GSDP is projected to cross ₹5.6 lakh crore in 2025-26 and approach ₹6.1 lakh crore in 2026-27.

Per Capita Income Surpasses ₹1 Lakh

For the first time, per capita income at current prices has exceeded ₹1 lakh, reaching ₹1,16,663 in 2024-25. The real per capita income grew to ₹68,357, a 65.7% increase from 2011-12, representing a CAGR of approximately 4.0%.

Services Sector Leading Growth

The Economic Survey highlights strong expansion in the services sector, which is projected to achieve a GSVAs of ₹1,37,730 crore in 2025-26 and ₹1,48,479 crore in 2026-27, representing growth of 8.84% and 7.81%, respectively.

Budget Milestones

Jharkhand’s budget has increased more than twentyfold since the state’s formation, rising from ₹6,067 crore in 2001-02 to ₹1,16,892 crore in 2024-25 (real terms). The 2025-26 budget is set at ₹1,45,400 crore, while total expenditure surpassed ₹1 lakh crore for the first time in 2023-24.

Financial Discipline Maintained

The state has maintained fiscal discipline, keeping the fiscal deficit within the 3% FRBM limit each year except 2020-21 during the pandemic, when it reached 5%. Banking infrastructure expanded to 3,449 branches and 3,338 ATMs by September 2025, adding 198 branches since December 2020. Deposits increased by 220% to ₹3,79,735 crore, while advances rose 124% to ₹1,58,714 crore from March 2014 to September 2025.

Agriculture Sector Contribution

Agriculture and allied activities are estimated to contribute 12.3% of Jharkhand’s GSVAs in 2025-26, with total agricultural GSVAs increasing by 34% to ₹28,470 crore.

Jharkhand’s robust economic growth, rising per capita income, and strengthened fiscal management indicate a promising outlook for the state’s economy, with significant opportunities expected in both services and agriculture in the coming years.