Jharkhand CM Hemant Soren and Finance Minister Rameshwar Oraon in the Assembly on Tuesday. (PTI)

Presenting its first Budget, the Hemant Soren government in Jharkhand on Tuesday proposed a farm loan waiver — “Alpkaalin Krishi Rahat Yojana” — and said Rs 2,000 crore has been earmarked for the scheme.

In a first, the Budget, presented by Finance Minister Rameshwar Oraon, also proposed to institute annual unemployment allowances of Rs 5,000 and Rs 7,000 for all unemployed graduates and postgraduates, respectively. Rs 146 crore has been earmarked for this in the 2020-21 Budget, he announced. Oraon presented a Budget of estimated Rs 86,370 crore, against the 2019-20 Budget estimates of Rs 85,429 crore.

Calling it a “revolutionary” and “pro-people” Budget, Chief Minister Soren said it focuses on health, unemployment and farmers, among others, and will help pave the way for a new journey.

The Budget proposes to give free electricity up to 100 units for households consuming up to 300 units per month.

The government also proposed to set up a state farmers’ relief fund this kharif season. A sum of Rs 100 crore has been earmarked for the

proposed relief fund, termed Jharkhand Rajya Kisan Rahat Kosh, “changing the form of Pradhan Mantri Fasal Bima Yojana”, Oraon said.

In another new initiative, the state government proposed to start its own health insurance scheme, worth Rs 5 lakh each, on the lines of the Centre’s Ayushmaan Bharat scheme.

The Budget that households with annual income up to Rs 8 lakh will be given free treatment for cancer, kidney ailments, liver disease, and brain haemorrhage at renowned hospitals. The state will facilitate and incur the entire cost, it was announced.