Finance Minister Nirmala Sitharaman delivered a powerful address to the Jharkhand Chamber of Commerce on the theme “Vikshit Bharat 2047” on Thursday in Ranchi, highlighting the challenges and opportunities for development in the State. Sitharaman began by addressing the alleged rampant corruption that has hindered Jharkhand’s progress, stating that it has blocked the state’s development. She said, “Rampant corruption has blocked the development of Jharkhand.” She emphasised that the talent of Jharkhand is being wasted due to lawlessness, corruption, and the absence of basic infrastructure such as electricity and roads. “Talent of Jharkhand is wasted because of lawlessness, corruption, and the absence of basic infrastructure like electricity and roads”, said Sitharaman. Pointing out that thousands of signatures are required to clear a project, and every signature passes through corrupt practices, “Business is not growing because of lawlessness and monumental corruption. Thousands of signatures needed to clear a project and every signature passes through corrupt practices”, Sitharaman said. She highlighted the alarming situation of investment flow being halted in the state, as no business entity would invest where lawlessness is at its peak.

 

Referring to National Crime Records Bureau (NCRB) data, she said, “Investment flow has stopped in the state, no business means will invest in states where lawlessness is at its peak. NCRB data shows 795 businessmen were murdered in 2022.” Despite the challenges, Sitharaman stressed that Jharkhand has the potential to become a manufacturing state, with 40 per cent of the country’s minerals found in the state. However, she lamented that these resources are often exported instead of being utilised for local development, stating, “States should become the engine of growth for Vikshit Bharat in 2047”. Sitharaman said, “Out of 112 aspirational districts, 42 are from eastern India including Jharkhand Odisha and Bihar.” Regarding the contribution of Jharkhand to the mineral fund, the Finance Minister said, “Jharkhand’s contribution to mineral fund was Rs 12,000 crore, out of the total of Rs 86,000 crore. In the last five years, 15,000 projects have been completed out of this fund in Jharkhand.” Responding to allegations that the central government does not allocate funds to Jharkhand, Sitharaman provided a comparative analysis.

 

She stated that during the UPA regime from 2009-2014, the central government gave an average of Rs. 457 crore per annum to Jharkhand. In contrast, in the Modi regime, Sitharaman said, “During the 2009-2014 UPI regime, the central government gave on average of Rs 457 crore per annum to Jharkhand. In the Modi Regime- 2024-25 interim budget, only for railways projects of Jharkhand, 7234 crore was allocated.” “Additionally, significant allocations were made for other development projects, including 100 per cent electrification of railways, redevelopment of 57 railway stations as modern stations, the introduction of 3 Vande Bharat trains, construction of 2256 km of national highways crossing Jharkhand, and Rs 8900 crore for the revival of the Sindri fertilizer factory,” she said. The Finance Minister further said, “100 per cent electrification of railways, 57 railway stations were re-developed as modern stations, 3 Vande Bharat trains, 2256 km of national highways crossing Jharkhand, Rs 8900 cr for revival of Sindri fertilizer factory.”