Ranchi, February 21: Jharkhand’s economy has doubled over the past decade, with per capita income crossing the ₹1 lakh mark for the first time, reflecting strong growth momentum and improving financial stability, according to the Economic Survey 2025–26 tabled in the Assembly on Saturday.
The survey showed that the state’s Gross State Domestic Product (GSDP) at constant (2011–12) prices rose from ₹1,50,918 crore in 2011–12 to ₹3,03,178 crore in 2024–25. Per capita income at current prices reached ₹1,16,663 in 2024–25, nearly doubling from around ₹60,000 in 2016–17.
The report noted that Jharkhand recorded a growth rate of 7.02 per cent in 2024–25, higher than the national average of 6.5 per cent, and has maintained over 7 per cent growth for the past four years. The economy is projected to grow further, with real GSDP expected to reach ₹3,21,892 crore in 2025–26 and ₹3,41,064 crore in 2026–27, while per capita income is forecast to rise to ₹1.35 lakh by 2026–27.
The services sector has emerged as the largest contributor to the state’s economy, with its share in Gross State Value Added increasing from 38.5 per cent in 2011–12 to 45.56 per cent in 2024–25. The manufacturing sector has also strengthened, with its share within industry rising to 55.4 per cent, supported by Jharkhand’s strong steel and mineral base.
Agriculture and allied activities continue to play a key role, contributing significantly to employment, with output projected at ₹28,470 crore in 2025–26. However, the sector’s share in the overall economy has gradually declined as industry and services expanded.
The survey highlighted improvements in social and fiscal indicators, noting that poverty declined from 42.10 per cent in 2015–16 to 28.81 per cent in 2019–21, while inflation eased from 6 per cent in 2023–24 to about 4 per cent in 2024–25.
Jharkhand’s fiscal position also strengthened, with the state maintaining fiscal discipline and keeping its fiscal deficit within the prescribed 3 per cent limit in most years. The state budget has grown significantly to ₹1,16,892 crore in 2024–25 and is estimated at ₹1,45,400 crore in 2025–26.
Banking infrastructure expanded steadily, with deposits rising 220 per cent to ₹3,79,735 crore and advances increasing by 124 per cent, reflecting improved financial inclusion and economic activity.
The survey noted that recent GST reforms and strong performance in the services, manufacturing and mining sectors have enhanced Jharkhand’s competitiveness, boosted industrial growth, and created employment opportunities.
Overall, the Economic Survey presented Jharkhand as a state on a steady growth trajectory, transitioning from post-pandemic recovery to sustained economic expansion driven by rising incomes, industrial strength and improved fiscal management.
