The Jharkhand government on Tuesday tabled a Rs 1.28 lakh crore budget for the 2024-25 fiscal in the assembly, announcing an increase in the limit under the farm loan waiver scheme to Rs 2 lakh and a coverage of 5 lakh additional beneficiaries under the state food security programme.

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The budgetary estimates for FY'25 were up by over 10 per cent from the previous annual financial statement.

The JMM-led coalition government had presented a budget of Rs 1.16 lakh crore for the current financial year 2023-24.

"I lay on the table of the House a budget of Rs 1,28,900 crore for the financial year 2024-25," Finance Minister Rameshwar Oraon said in the assembly.

This was the first budget of the newly formed Champai Soren government.

The budget will meet the aspirations of every section of the society, including poor people, farmers, tribals and women, and will bolster the overall development of the state, Oraon said.

The government introduced a separate 'Bal' budget for inclusive development of students with an allocation of Rs 8,866 crore, which is part of the total estimates.

Oraon also announced an increase in the limit under the Farm Loan Waiver scheme from existing Rs 50,000 to Rs 2 lakh.

Under the 'Abua Awas (Housing) Yojana', the government planned to build 3.50 lakh houses in 2024-25.

The minister also proposed to increase the number of beneficiaries under the state food security scheme to 25 lakh from the existing 20 lakh.

Under the central and state food security schemes, the Jharkhand government has decided to provide Soybean chunks along with pulses and rice.