Odisha’s Fiscal Growth Shows Upward Trend

revenue generation and utilization of budgeted allocation showed an upward trend by the end of November, 2018.

Review of the fiscal performance showed that the total budget expenditure up to November, 2018 has been Rs 61,876 crore, which is more than 49% of the allocated amount in both the main and supplementary budgets.

The expenditure by November has grown by more than 22% over the corresponding period of last fiscal year. The total programme expenditure in the social sector during the period has grown by 46% (with actual spending of Rs 18380 crore) over the corresponding period of 2017-18.

The total expenditure in infrastructure sector has reached Rs 9131 crore, marking a growth of around 5% over the corresponding period of last fiscal.

Similarly, the total expenditure in agriculture and allied sector has touched Rs 6976 crore.

The total revenue generation also grew around 17% by the end of November
2018.  The revenue from non-tax sources grew by 64% with a total collection of Rs 7563 crore while the revenue from own-tax sources has grown by 5% with total collection of Rs 18,560 crore.

The revenue generation from mining royalty and industrial water rate increased around 75% and 12% respectively. The matters relating to preparation of the budget for the fiscal year 2019-2020 were discussed in the meeting. The chief secretary directed all the departments to submit their requirement proposals by December 15. It was decided that pre-budget scrutiny meeting of the proposals for programme expenditure would be done by the Planning and Convergence Department while the Finance Department will take up the scrutiny of other matters. Development Commissioner Asit Kumar Tripathy, Additional Chief Secretary, Forest & Environment, Suresh Chandra Mohapatra, Additional Chief Secretary Steel & Mines, Raj Kumar Sharma along with principal secretaries, secretaries and special secretaries of all departments were present at the meeting.