Mr Jha, 78, died due to various health complications, including a multi-organ failure and a septic shock, according to the hospital authorities.
"He was admitted with a septic shock and multi-organ failure. He succumbed to his illness at 3.10am," RML Hospital medical superintendent Dr V K Tiwari said.
He added that Mr Jha was also suffering from hypertension, diabetis, chronic hepatitis and a chronic kidney disease and that he was on maintenance haemodialysis.
Born on August 9, 1939, Mr Jha was the Union minister of state for heavy industries and public enterprise in the UPA government, led by former prime minister Manmohan Singh, as a Rashtriya Janata Dal (RJD) representative.
In 2015, he had quit the RJD to join the Samajwadi Party (SP).
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.