In an exclusive conversation with Shashi Singh of The Statesman, Jharkhand Finance Minister Radha Krishna Kishore reflects on the state’s 25-year journey and the path ahead. Known for his clear views on fiscal discipline and long-term planning, he speaks about reducing dependence on mining, strengthening agriculture and human capital, and creating a better environment for investment. Edited excerpts:
Q: Jharkhand has completed 25 years just like Chhattisgarh and Uttarakhand. In comparison to these states, where do you see Jharkhand today?
A: Our approach is straightforward. We do not focus on complaints. We work with the resources we have and aim to create a model others can learn from rather than imitate anyone else. In the early years, the state missed a few priorities. Jharkhand needed a clear revenue strategy and long-term planning for key sectors, but that clarity was lacking. Heavy reliance on contractual appointments was another setback. Regular posts were available, yet temporary arrangements became the norm, which weakened the system over time. To set the state on a stable financial path, a stronger understanding of the economy was needed. Nearly eighty per cent of the population depends on agriculture. Without adequate irrigation, productivity cannot increase. Health and education also required greater focus from the beginning.
Q: At the silver jubilee event, you praised the current leadership for its financial discipline and efficient use of resources while noting that several areas still need work. Under the planning you mentioned, which direction is the state moving in now?
A: The Chief Minister spoke with clarity. He said this is not only a moment to look back on 25 years, but also an opportunity to decide where Jharkhand should be in the next 25 years. That vision gives both motivation and responsibility. Our focus is not limited to immediate needs. What matters is the direction we set for the coming financial years. We are thinking beyond quick corrections. We are defining where we want Jharkhand to stand in the next quarter century and what steps must begin now to reach that goal. The planning underway is long-term. It covers economic growth, better resource utilisation, building human capital and identifying priority sectors. The aim is to use current gains as a foundation and prepare the state for its next phase of development.
Q: The government’s vision document says Jharkhand must reduce its dependence on mining and grow in other sectors. Which areas offer the best opportunities?
A: The best opportunity lies in agriculture. Jharkhand has about 29 lakh hectares of cultivable land, and nearly 10 lakh hectares more can be brought under cultivation with focused effort. Previous governments did not prioritise barren or unused land. If this land becomes productive, nearly 35 lakh hectares can be farmed, which will strengthen the rural economy. Animal husbandry is another strong sector. The per capita availability of milk in Jharkhand is only 175 grams per day, far below the national average of around 500 grams. We import milk from several states. Strengthening dairy production can boost revenue and improve nutrition. Fisheries have similar potential. Fish consumption in Jharkhand is high, but most of the supply comes from other states. Better use of reservoirs can make fisheries a major economic driver. Tourism is also promising. We may not have snowfall, but our waterfalls, hills, forests and cultural sites are exceptional. With proper planning and investment, tourism can become a major pillar of the state economy. Mining is our strength, but it cannot be our only strategy. A balanced mix of agriculture, animal husbandry, fisheries and tourism will create a sustainable economic structure.
Q: You mentioned tourism. Jharkhand has natural beauty but tourism depends on landscape, cuisine and the attitude of local communities toward visitors. Is the state ready for this? What steps are being taken?
A: You are right. Natural beauty alone does not build tourism. It needs facilities, reliable services and a welcoming environment. Jharkhand has excellent locations like Netarhat, Mahuadanr, Patratu, Hazaribagh, Parasnath and many more. The lack of basic amenities has been a hurdle for years. Once these improve, people who travel to Goa or Manali will also consider destinations within their own state, and visitors from outside will follow. The government is now more active in promoting tourism. We want people of Jharkhand to explore other states, learn from different cultures, and we also want visitors from across India to discover Jharkhand. This exchange naturally shapes local attitudes.
Q: You emphasise regulated mining, yet illegal mining and its unchecked transportation continue across Jharkhand, from sand to coal, leading to major revenue losses. What steps are being taken to contain this?
A: This is not only a departmental issue. It is our collective responsibility as citizens to prevent illegal mining and protect natural resources. Illegal extraction and transportation are serious challenges. A simple example shows the scale: if a company reports producing 1,000 tonnes but transportation records show 1,500 tonnes, the extra 500 tonnes are illegal. The first responsibility lies with the company, because extraction happens within its premises. The second level is the state. When illegal transportation is detected, our team documents the case, initiates action and holds the company accountable. Even though mining companies come under the Centre, preventing illegal transportation is a shared responsibility. There are areas where mining is completely prohibited, yet illegal activity continues. The government is preparing a detailed plan to identify routes used for illegal transportation and the forest pockets where illegal mining is active.
Q: Jharkhand’s credit–deposit ratio remains weak. What is being done to improve it?
A: The RBI’s benchmark is clear: banks must lend at least seventy per cent of the deposits they collect within the state. For many years this was ignored in Jharkhand. Around five years ago, the CD ratio was only forty-two per cent. In the last three to four years, once we made it a priority and held regular meetings with banks, the situation improved. Today it is around fifty-two per cent, which is encouraging but still behind the target. Banks have been told to raise it to sixty-five to seventy per cent in the next three to four years.
Q: Support for small entrepreneurs is improving but major technology companies still do not invest here. Why?
A: The reasons lie in the early years. A new state must be nurtured from the beginning. Education, health, security, infrastructure and economic direction must be prioritised. Jharkhand could not do this in time. Other states like Telangana and Andhra Pradesh created the right environment with strong infrastructure, policy clarity and ease of doing business. As a result, large companies invested there. Jharkhand’s development often remained limited to local infrastructure, while major investors look for broader support such as stable policies, simplified clearances and efficient administration. The government is now addressing these issues, but building trust takes time. Large companies respond only when they see stability and long-term opportunity.
Q: Another major issue is land. Companies hesitate because they do not get freehold land. How do you see this?
A: Land is important, but not an insurmountable issue. The real challenge is the willingness to take timely decisions. Companies prefer freehold land so they can plan long-term investments. Jharkhand has land, including around Ranchi, that can be used for national or state-level projects. What matters is a predictable and supportive environment. The Chief Minister is serious about this. He has invited industries to Jharkhand and assured them of facilities, land support and institutional backing.
Q: You mentioned the need for better Centre-state coordination. On which points is greater harmony needed?
A: Earlier, even when states and the Centre were ruled by different parties, cooperation on matters of rights and administration was the norm. Differences existed, but the dignity of federalism was maintained. Today, there are cases where grants are delayed or withheld. This is unhealthy because it weakens the federal structure. The idea of a “double engine” is often presented in a way that creates confusion. A state’s rights come from the Constitution, not from political alignment.
Q: The Chief Minister says Jharkhand will now focus on value addition instead of sending raw minerals outside. How do you see this?
A: This is the correct approach. Jharkhand has major minerals, yet most of them leave the state in raw form. We lose value-added taxation, which is a major loss. Better access to ports and logistics has opened new opportunities for processing and exports. The aim is to ensure that mineral-based industries are set up here and that value-added products are manufactured within the state. This will increase revenue and create jobs.