Bhubaneswar: The Odisha Government on Tuesday presented the annual budget of Rs 1.50 lakh crore for the 2020-21 fiscal.
The outlay of the state Budget, tabled by Finance Minister Niranjan Pujari in the Assembly, is about 11 per cent more than that of 2019-20.
Maintaining that economic growth of Odisha was estimated at 6.16% as compared to national growth rate of 5%, Pujari said the outlay is proposed to be financed mainly through revenue receipts of Rs 1,24,200 crore and borrowing and other receipts of Rs 25,800 crore.
“Odisha’s economy is consistently growing at a higher rate compared to the national growth. During last 7 years, the average growth of Odisha has remained about 8% compared to National average of about 6.9%,” said the Finance Minister.
The fiscal deficit is estimated to be three per cent of GSDP for the year 2020-21.
The total administrative expenditure is estimated at Rs 62,650 crore, Rs 74,000 crore for programme expenditure, Rs 3,200 crore for disaster response and Rs 7,145 crore for transfer to local bodies and development authorities. Besides, Rs 6,500 crore will be invested from off-budget resources like OMBADC, DMF, State PSUs etc. to supplement the budgetary outlay.
The capital outlay in 2020-21 is Rs 26,513 crore, which is about 4.5 per cent of GSDP. Additionally, loans and advances, grants for creation of capital assets and other expenditure for capital formation together account for Rs.12,000 crore, which is 2 per cent of GSDP.
Total revenue receipts for the year 2020-21 include State’s Own tax for Rs 38,250 crore, Own Non-tax revenue of Rs 17,650 crore, State’s share in Central taxes for Rs 36,300 crore and grants from Centre for Rs 32,000 crore.
The budget focuses on creation of world class infrastructure, transformative healthcare facilities and education services, robust eco-system for skills, sports, tourism, culture, industries and MSMEs.
A whopping Rs 3,200 crore has been allocated for disaster management while an innovation tower is proposed to be constructed at Bhubaneswar at a cost of Rs 59 crore for growth of IT sector.
Similarly, Rs 301 crore has been allocated for sports and youth services that include Rs 140 crore for sports infrastructure and Rs 91 crore for sports education. The Budget proposes a new directorate Archaeology to take up preservation activities of heritage sites in a professional manner.
An amount of Rs 80 crore has been proposed for Bay Area Development in Shamuka Beach in Puri which will have world-class infrastructure. New scheme proposed under works Department for development of heritage sites including Samaleswari temple, Hirakud dam and other potential places and old monuments.
An amount of Rs 70 crore has been provided to IPICOL for successful organisation of Make in Odisha Conclave 2020 while Rs 284 crore has been proposed for creation of world class industrial infrastructure.
An outlay of Rs 33 crore has been made for establishment of 24 fast track courts and for 21 temporary fast track courts.
Minister Pujari also allocated Rs 400 crore as State share for the Khurda Road-Balangir, Jeypore-Malkangiri and Jeypore-Nabarangpur rail line.