GG News Bureau
Bhubaneswar, 3rd July. The Odisha government presented a Rs 2 lakh crore budget for the fiscal year 2022-23 in the state assembly on Saturday, with a focus on strengthening infrastructure, developing education and health sectors, and improving people’s livelihoods.
Odisha Finance Minister Niranjan Pujari claimed that the estimated outlay for the current fiscal year is the “highest” in the state budget’s history, and is approximately 17.6 percent higher than the Rs 1.7 lakh crore allocated in the previous fiscal.
He also stated that the planned expenditure is Rs 1 lakh crore of the total budgetary estimates.
“Over the last twenty-two years, the size of the state budget has increased seventeenfold, and we are approaching the landmark figure of Rs 2 lakh crore this year,” Pujari said.
The capital expenditure in FY23 was estimated to be Rs 38,732 crore, i.e. approximately 5.4 percent of the Gross State Domestic Product.
Loans and grants for capital asset creation, as well as other capital formation expenditure, total Rs 11,933 crore, according to the minister.
“As a sign of our economic prosperity, the share of our own revenue in the state budget has significantly outpaced the devolution of taxes from the central government,” he said.
Pujari stated in the House that the budget is proposed to be financed primarily through revenue receipts of Rs 1,63,967 crore and borrowing and other receipts of Rs 36,033 crore.
The total revenue receipts for the fiscal year 2022-23 include the state’s share of central taxes (Rs 36,978 crore), its own tax revenue (Rs 46,000 crore), its own non-tax revenue (Rs 48,200 crore), and grants from the Centre (Rs 32,789 crore).
According to him, the own revenue-to-GDP ratio in 2022-23 would be 13.20 percent.
The state budget, as per Chief Minister Naveen Patnaik, is “progressive, pro-poor, and development-oriented.”
The budget’s goal, according to the chief minister, is to create quality healthcare facilities, strengthen the education ecosystem, improve life and livelihoods, and empower women, in addition to infrastructure development.
Capital spending will increase by more than 56%, boosting growth, Patnaik said, adding that a separate budget for ‘Mission Shakti’ with a Rs 2,000 crore allocation will deepen the state’s engagement with 70 lakh women.
The finance minister proposed allocating Rs 911 crore to the Sports and Youth Services Department.
He also reserved Rs 325 crore for land acquisition, construction, renovation, and expansion work at the airports of Rourkela, Jeypore, Utkela, and Jharsuguda, as well as renovation of the Birashala airstrip.
The budget proposes an allocation of Rs 547 crore for the development of rail projects in the state.
Pujari stated that a budgetary provision of Rs 12,624 crore has been proposed for the state’s public health, which is 25% more than the previous budget.
The Biju Swasthya Kalyan Yojana has received budgetary support of Rs 2,664 crore, while the FM has allocated Rs 1,874 crore for farmer assistance under the KALIA scheme.
He stated that Rs 500 crore has been proposed for state support to MGNREGS, a rural employment guarantee scheme.
Pujari also allocated Rs 1,023 crore for food security-related programmes in the state.
He stated that Rs 27,324 crore would be allocated to education and skill development.
The opposition BJP and Congress called the state budget “disappointing,” saying “no new scheme to address unemployment and check migration” was proposed.
Pujari also informed the House that the state government will establish a “Budget Stabilisation Fund” to offset losses caused by the sudden drop in mineral prices.
Our initiative to establish the Budget Stabilisation Fund will aid in mitigating future revenue shocks. “The budget is consistent with our transformational agenda,” Patnaik said, adding that he is confident the budget will meet people’s expectations.
The state government presented a vote-on-account for the first four months of 2022-23 in March.
Due to panchayat and urban elections in the state, the full budget could not be presented at that time.
According to the minister, the vote on account was required for expenditure on salary, pension, and other ongoing schemes and programmes.
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