By Our Correspondent
BHUBANESWAR: Rs. 2.30 lakh crores Annual Budget for Financial Year 2023-24 was on Friday presented in Odisha State Assembly by State Finance Minister Niranjan Pujari. Before presenting Annual Budget, Pujari presented the Soft Copy of Budget to Chief Minister Naveen Patnaik. Principal Secretary Finance Vishal Dev was present during the Presentation of Soft Copy.
This Budget is 15 per cent more than the full-fledged budget of Rs.2 lakh crore for 2022-23. Pujari said the Program Budget has been increased by 35 times from Rs.3,538 crore in 2000-01 to Rs.1,25,000 crore in 2023-24 Budget Estimates. The allocation for the Program Expenditure is about 54 percent of the total budgetary outlay.
Capital Outlay has gone up by more than 60 times from Rs.834 crore to Rs.51,683 crore during the same period, he said.
The Administrative Expenditure proposed at Rs.94,000 crore in 2023-24, which includes Rs.32,449 crore for salaries, Rs.19,967 crore for pension, Rs.7,241 crore for interest payment and Rs.13,464 crore for maintenance of capital assets.
The outlay for Disaster Response Funds will be Rs.3,700 crore, while Transfers from State will have an outlay of Rs.7,300 crore.
State to transfer about Rs.3,132 crore on the basis of the recommendations of15th Finance Commission and around Rs.4,052 crore on the recommendations of the 5th State Finance Commission to the rural and urban local bodies of the State,” he said.
The Capital Outlay in 2023-24 is Rs.51,683 crore, which is about 6 per cent of GSDP. Additionally, loans and advances, grants for creation of capital assets and other expenditure for capital formation together account for Rs.12,421 crore, which is 1.4 per cent of GSDP.
The Finance Minister has said that the budget allocation is proposed to be financed through revenue receipts of Rs.1,84,500 crore and borrowing and other receipts of Rs.45,500 crore.
Giving details of revenue receipts for the year 2023-24, he said State’s share in Central taxes is proposed to be Rs.46,251 crore, while Rs.53,000 crore expected from State’s own tax, Rs.52,500 crore from own non-tax revenue and Rs.32,749 crore grants from Centre.
