diff --git a/arrow-cast/src/cast/decimal.rs b/arrow-cast/src/cast/decimal.rs
index 972233e5a0a..3dee987e818 100644
--- a/arrow-cast/src/cast/decimal.rs
+++ b/arrow-cast/src/cast/decimal.rs
@@ -231,6 +231,7 @@ where
     )?))
 }
 
+#[allow(dead_code)]
 /// Parses given string to specified decimal native (i128/i256) based on given
 /// scale. Returns an `Err` if it cannot parse given string.
 pub(crate) fn parse_string_to_decimal_native<T: DecimalType>(
@@ -343,10 +344,9 @@ where
     &'a S: StringArrayType<'a>,
 {
     if cast_options.safe {
-        let iter = from.iter().map(|v| {
-            v.and_then(|v| parse_decimal::<T>(v, precision, scale).ok())
-                .and_then(|v| T::is_valid_decimal_precision(v, precision).then_some(v))
-        });
+        let iter = from
+            .iter()
+            .map(|v| v.and_then(|v| parse_decimal::<T>(v, precision, scale).ok()));
         // Benefit:
         //     20% performance improvement
         // Soundness:
@@ -360,15 +360,12 @@ where
             .iter()
             .map(|v| {
                 v.map(|v| {
-                    parse_decimal::<T>(v, precision, scale)
-                        .map_err(|_| {
-                            ArrowError::CastError(format!(
-                                "Cannot cast string '{}' to value of {:?} type",
-                                v,
-                                T::DATA_TYPE,
-                            ))
-                        })
-                        .and_then(|v| T::validate_decimal_precision(v, precision).map(|_| v))
+                    parse_decimal::<T>(v, precision, scale).map_err(|_| {
+                        ArrowError::CastError(format!(
+                            "Cannot cast string '{}' to decimal type of precision {} and scale {}",
+                            v, precision, scale
+                        ))
+                    })
                 })
                 .transpose()
             })
diff --git a/arrow-cast/src/cast/mod.rs b/arrow-cast/src/cast/mod.rs
index 8d0d097979d..5c0da189914 100644
--- a/arrow-cast/src/cast/mod.rs
+++ b/arrow-cast/src/cast/mod.rs
@@ -8849,16 +8849,16 @@ mod tests {
             format_options: FormatOptions::default(),
         };
         let casted_err = cast_with_options(&array, &output_type, &option).unwrap_err();
-        assert!(casted_err
-            .to_string()
-            .contains("Cannot cast string '4.4.5' to value of Decimal128(38, 10) type"));
+        assert!(casted_err.to_string().contains(
+            "Cast error: Cannot cast string '4.4.5' to decimal type of precision 38 and scale 2"
+        ));
 
         let str_array = StringArray::from(vec![". 0.123"]);
         let array = Arc::new(str_array) as ArrayRef;
         let casted_err = cast_with_options(&array, &output_type, &option).unwrap_err();
-        assert!(casted_err
-            .to_string()
-            .contains("Cannot cast string '. 0.123' to value of Decimal128(38, 10) type"));
+        assert!(casted_err.to_string().contains(
+            "Cast error: Cannot cast string '. 0.123' to decimal type of precision 38 and scale 2"
+        ));
     }
 
     fn test_cast_string_to_decimal128_overflow(overflow_array: ArrayRef) {
@@ -8902,7 +8902,10 @@ mod tests {
                 format_options: FormatOptions::default(),
             },
         );
-        assert_eq!("Invalid argument error: 100000000000 is too large to store in a Decimal128 of precision 10. Max is 9999999999", err.unwrap_err().to_string());
+        assert_eq!(
+            "Cast error: Cannot cast string '1000' to decimal type of precision 10 and scale 8",
+            err.unwrap_err().to_string()
+        );
     }
 
     #[test]
@@ -8985,7 +8988,10 @@ mod tests {
                 format_options: FormatOptions::default(),
             },
         );
-        assert_eq!("Invalid argument error: 100000000000 is too large to store in a Decimal256 of precision 10. Max is 9999999999", err.unwrap_err().to_string());
+        assert_eq!(
+            "Cast error: Cannot cast string '1000' to decimal type of precision 10 and scale 8",
+            err.unwrap_err().to_string()
+        );
     }
 
     #[test]
diff --git a/arrow-cast/src/parse.rs b/arrow-cast/src/parse.rs
index fd2e078d897..ea020a27ca3 100644
--- a/arrow-cast/src/parse.rs
+++ b/arrow-cast/src/parse.rs
@@ -842,6 +842,7 @@ pub fn parse_decimal<T: DecimalType>(
     let mut result = T::Native::usize_as(0);
     let mut fractionals: i8 = 0;
     let mut digits: u8 = 0;
+    let mut rounding_digit = -1; // to store digit after the scale for rounding
     let base = T::Native::usize_as(10);
 
     let bs = s.as_bytes();
@@ -871,6 +872,13 @@ pub fn parse_decimal<T: DecimalType>(
                     // Ignore leading zeros.
                     continue;
                 }
+                if fractionals == scale && scale != 0 && rounding_digit < 0 {
+                    // Capture the rounding digit once
+                    if rounding_digit < 0 {
+                        rounding_digit = (b - b'0') as i8;
+                    }
+                    continue;
+                }
                 digits += 1;
                 result = result.mul_wrapping(base);
                 result = result.add_wrapping(T::Native::usize_as((b - b'0') as usize));
@@ -903,9 +911,10 @@ pub fn parse_decimal<T: DecimalType>(
                         )));
                     }
                     if fractionals == scale && scale != 0 {
-                        // We have processed all the digits that we need. All that
-                        // is left is to validate that the rest of the string contains
-                        // valid digits.
+                        // Capture the rounding digit once
+                        if rounding_digit < 0 {
+                            rounding_digit = (b - b'0') as i8;
+                        }
                         continue;
                     }
                     fractionals += 1;
@@ -966,6 +975,10 @@ pub fn parse_decimal<T: DecimalType>(
                 "parse decimal overflow ({s})"
             )));
         }
+        //add one if >=5
+        if rounding_digit >= 5 {
+            result = result.add_wrapping(T::Native::usize_as(1));
+        }
     }
 
     Ok(if negative {