Odisha Finance Minister Presents Interim State Budget
by Argus News
Thu, Feb 08 | 5:11 p.m.

Bhubaneswar, Feb 8: Odisha Finance Minister Bikram Keshari Arukha presented a Vote on Account (Interim Budget) for 2024-2025 in the State Assembly on Thursday.

The total outlay of Rs Rs 1.18 lakh crore has been tabeled in the House with a focus on the development of youth, agriculture and infrastucture, the State Finance Minister said while presenting the Interim Budget.

The State government estimated that the total budget outlay for the next financial year will be Rs 2.55 lakh crore, which is about 11 per cent more than the annual budget of 2023-24.

“Keeping in view the requirement of funds for expenditure on payment of salary, pension, interest payment, repayment of principal, relief, old age pension, scholarship of ST & SC students and other on-going scheme and programmes, a sum of Rs 1,18,000 crore is proposed in the vote on account,” the Minister said in the House.

Of the total Rs 2.55 crore provision, Rs 1,03,500 crore has been allocated for administrative expenditure, Rs 1.40 lakh crore for programme expenditure, Rs 3,900 crore for disaster management and Rs 7,600 crore for transfer to Panchayati Raj Institutions and Urban Local Bodies, Arukha said.

“Odisha has now become more than a 100 billion dollar economy. Since 2015-16, the state has registered an average growth of 7.25 per cent, which is about 1 per cent higher than the average growth of the national economy,” he added.

The State government has allocated Rs 1,050 crore for the skill development sector and Rs 21,004 crore for construction of logistics like roads, bridges, airports and railways including Rs 1,000 crore for metro rail, which is 25 per cent higher than last year, the Minister said.

On the fiscal status of the state, the Minister said the debt stock at the end of 2024-25 is projected to remain at 13.1 per cent of GSDP against the FRBM (Fiscal Responsibility and Budget Management Act, 2003) mandated level of 25 per cent.

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