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    Union Budget leaves Odisha government disappointed

    Synopsis

    On the positive side, Odisha had requested for extension of concessional tax rates to cooperatives in line with corporate tax cuts, said the CM appreciating the move.

    Odisha was also concerned about the stagnation in almost all allocation of centrally sponsored schemes.
    The Union Budget 2020 has left the Naveen Patnaik's government in Odisha mostly disappointed. “The divisible pool of Central Taxes has shrunk by almost Rs 59,000 crore. This will reduce Odisha's share by about Rs 3000 crore,” said Chief Minister Naveen Patnaik addressing the media on Saturday evening.

    Odisha was also concerned about the stagnation in almost all allocation of centrally sponsored schemes. “Drinking water is a national priority. Allocation of Rs 11,500 crore nationally against an approved plan of Rs 3.6 lakh crore is too little. In fact Odisha spends about Rs 3600 crore in drinking water,” he added.

    On the positive side, Odisha had requested for extension of concessional tax rates to cooperatives in line with corporate tax cuts, said the CM appreciating the move. Also approving of the removal of dividend distribution tax and introduction of concessional component tax, and the idea of a seamless cold supply chime.

    Pointing out that the Sensex had fallen by nearly 1000 points, the CM said it was sign that the budget has fallen short of expectations. “Investor confidence is important for fresh investments to come in, to spur growth which is the biggest challenge now. This will have a huge impact on job creation and livelihood options for our youth,” said Patnaik.

    Odisha also noted that no archeological site in the state had been included among the places to be developed as iconic heritage sites with dedicated museums. Odisha also deserved a National Tribal Museum, that the Government proposed to put up in Ranchi, said Patnaik.
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