Odisha Budget

State Finance Minister Niranjan Pujari will present the annual Budget for the year 2023-24 on February 24 while general discussion on the Budget will start from February 27

The Odisha government directed all urban local bodies (ULBs) to spend 25 percent of their budgetary allocation on the development of slum areas.

The state government is likely to present the annual budget for 2019-20 in July

State economy to grow by 8-8.5% in FY20

The additional Budget provision was necessitated by post budget decisions relating to new schemes or programmes announced by the state government

The budget will also provide for existing state-sponsored schemes, central sector schemes and centrally sponsored schemes

From October 1 last year, the state government has been paying salaries and pension to its staff in revised scale, keeping to the provisions of the Seventh Pay Commission

Odisha has presented a revenue surplus budget for 2018-19 with the total outgo pegged at Rs 1.2 trillion, higher by 13.2 per cent over the size of Rs 1.06 trillion in last fiscal.The state Budget after factoring in the external and domestic economic environment has set a growth forecast of 8-8.5 per cent during 2018-19. For 2017-18, the Budget concurred with the growth projection of the Economic Survey at 7.14 per cent. This comes on the back of a robust 10.4 per cent growth recorded by Odisha in 2016-17. Higher growth is mainly contributed by growth in manufacturing, energy and service sectors.The Budget outlay is proposed to be financed mainly through revenue receipts of Rs one trillion and the rest from borrowing and other receipts pegged at Rs 196.67 billion. Total revenue receipts for 2018-19 would be made up by the state's share in central taxes (Rs 365.86 billion), state's own tax (Rs 285.5 billion), own tax revenue (Rs 103 billion) and grants from the Centre (Rs 247.64 ...

Unfazed by the global macro-economic headwinds and the internal punch delivered by demonetization, Odisha has projected a GSDP (Gross State Domestic Product) growth in the range of 8-8.5 per cent for 2017-18. Advance estimates by the Economic Survey have pegged the state economy to grow at 7.94 per cent in 2016-17, higher than the national average of 7.1 per cent.Total Budget outgo for FY18 is pegged at Rs 1.06 lakh crore, 13.7 per cent higher than Rs 94052.65 crore in last fiscal. The expenditure is expected to be made up through revenue receipts estimated at Rs 88932 crore, recovery of loans and advances worth Rs 130 crore and a borrowing of Rs 17849 crore, indicating its growing appetite to finance capital projects. The overall borrowing comprises open market loans of Rs 10273.46 crore. Total gross borrowings by the state is projected to touch Rs 21900 crore in 2019-20.With higher borrowing target, Odisha's total debt stock by the end of 2017-18 is estimated at Rs 76744.12 crore, ..