Finance
In the Odisha Assembly today, Finance Minister Niranjan Pujari tabled a Budget proposal of Rs 2,30,000 lakh crore for the fiscal year 2023-24.
The capital outlay for the fiscal year 2023-24 is Rs 51,683 crore, or 6% of the GSDP.
Loans, advances, and grants for the creation of capital assets, as well as other capital formation expenditure, total Rs 12,421 crore, or 1.4% of the GSDP.
The budget is proposed to be funded by Rs 1,84,500 crore in revenue receipts and Rs 45,500 crore in borrowing and other receipts.
Total revenue receipts for 2023-24 include the state’s share of Central taxes of Rs 46,251 crore, the state’s own tax of Rs 53,000 crore, and the state’s own non-tax revenue of Rs 52,500 crore and Rs 32,749 crore grants from the Centre, said the Finance Minister in his Budget speech.
This Budget focuses on achieving rapid and inclusive growth by investing in physical and social infrastructure, providing healthcare for all, providing social safety nets for the disadvantaged and vulnerable sections, and empowering youth, women, STs, SCs, OBCs, minorities, people with disabilities, and senior citizens, he added.
In this Budget, the state government has set aside Rs 16,048 crore for the health sector. According to the Finance Minister, this is a 27% increase over the allocation in the previous Budget.
The allocation for the piped water scheme is 13,215 crore, which is 58% more than the previous fiscal.
According to the Finance Minister, the government has allocated Rs 24,829 crore (a 21% increase) for agriculture and allied sectors, Rs 19,452 crore (34% increase) for roads, bridges, airports, and railways, Rs 7,914 crore (9%) for urban development, Rs 6224 crore for Mission Shakti and women and child development, Rs 1,358 crore for industries and MSME sector, and Rs 3,700 crore for disaster risk management in Odisha.
The Odisha government has proposed spending Rs 30,030 crore on education and skill development, Rs 38,437 crore on SC/ST development, Rs 680 crore on tourism, Rs 1,217 crore (a 34% increase) on sports development, Rs 8,130 crore on internal security and justice, and Rs 7,300 crore on transfer to local bodies, he added.
Notably, this is the last full-fledged Budget of the BJD government in its fifth term in office.
Source:SE
