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Odisha presents a Rs 1.5 lakh crore budget, betting on a 7.5 per cent growth

Finance Minister Niranjan Pujari said Odisha’s economy was expected to grow at 7-7.5 per cent with the state expecting revenues of Rs 1,24,300 crore in FY20-21.

, ET Bureau|
Last Updated: Feb 18, 2020, 11.27 PM IST
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Budget
Odisha, which has been trying to promote itself as the new destination to discover will spend twice as much on tourism, which gets Rs 401 crore for FY21.
Naveen Patnaik’s government presented a Rs 1.50 lakh crore state budget for the financial year 2020-21 to the state assembly on Tuesday.

Finance Minister Niranjan Pujari said Odisha’s economy was expected to grow at 7-7.5 per cent with the state expecting revenues of Rs 1,24,300 crore in FY20-21.

The growth was to be driven from the government’s decision to promote industries and increase in investments in the infrastructure sector, along with a focus on social sector, said Pujari.

As per revised estimate of FY2019-20, the state will see a revenue surplus of Rs 6,175 crore and a fiscal deficit of 3.4 per cent of GSDP.

The government proposes to spend Rs 63,650 crore in administrative expenditure, Rs 74,000 crore in programme expenditure and Rs 3,200 crore for disaster response while Rs 7,145 crore is to be transferred to local bodies and development authorities.

The budget this year was presented from an i-pad as an e-budget that was also available for download form a budget app. Another first was a Nutrition Budget drafted with the help of the UNICEF, covering all nutrition specific and nutrition sensitive schemes across departments, and similarly a Gender Budget, a Child Budget, and Climate Budget tracking climate public expenditure.

A welcome move with far reaching implications was the doubling of allocation to the health sector, taking it to Rs 7,700 crore. A sum of Rs 1000 crore would be spend over the next two years to rebuild the Sriram Chandra Bhanj Medical College in Cuttack into a state-of-art 3000 bed institution; Rs 562 crore is being earmarked for other medical colleges. The Mukhya Mantri Swasthya Seva Mission gets Rs 578 crore and the state’s own Biju Swasthya Kalyan Yojana, Rs 1108 crore.

In keeping with its practice, the government also presented a separate agriculture budget of Rs 19,408 crore. A sum of Rs 3,195 crore has been allocated to KALIA, Patnaik’s agrarian scheme now merged with the Central PM -KISAN Yojana while Rs 705 crore has been allocated to interest-subsidy for agriculture loans to farmers. Agricultural research, education and infrastructure saw a five-fold increase with an allocation of Rs 150 crore, a similar amount will go Orissa University of Agriculture and Technology.

The state’s setting aside Rs 3200 crore for disaster management. Its pet project, a redevelopment of the temple town of Puri, gets Rs 695 crore for the year and the redevelopment around Lingaraj temple in Bhubaneswar, Rs 150 crore. While other heritage and tourists sites, such as Samaleswari Mandir, Hirakud Dam, have been allocated Rs 50 crore.

Odisha, which has been trying to promote itself as the new destination to discover will spend twice as much on tourism, which gets Rs 401 crore for FY21.

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