Odisha Finance Minister presents Rs 1,20,028 crore tax free budget for 2018-2019

23 March, Bhubaneswar

 

Odisha Finance Minister Sashi Bhusan Behera on Friday presented Rs 1.20,028 crore tax free and revenue surplus budget for the state for 2018-2019.

Presenting the 2018-2019 budget in the state Assembly, Behera said for the first time in the history of the state budget, the allocation for programme expenditure exceeds half of the total budgetary outlay.

He said, the outlay is proposed to be financed mainly through revenue receipts of Rs 1.00,200 crore and borrowing and other receipts of Rs 19,678 crore.

Behera said the total administrative expenditure is estimated at Rs 50,761 crore while the total programme expenditure outlay for the financial year 2018-2019 will be Rs 67,000 crore.

The Finance Minister said the total revenue receipts for the year 2018-2019 include state’s share in the central tax for Rs 36,586 crore, state’s own tax for Rs 28,550 crore, own Non tax revenue at Rs 10,300 crore and grants from centre for Rs 24,764 crore.

Behera claimed that the Budget focuses on achieving rapid and inclusive growth through human development physical and social infrastructure, social safety.

“The budget focuses on achieving rapid and inclusive growth through human development, physical and social infrastructure, social safety nets for the disadvantaged and vulnerable sections and empowerment of people,” said Behera.

He said the total outlay of Rs 1.20 lakh crore would be financed through revenue receipts of Rs 1,00,200 crore and borrowing and other receipts of Rs 19,678 crore.

The Minister said as per the revised estimates for 2017-18, there will be a revenue surplus of Rs 8,873 crore and the fiscal deficit will be at 3.4 percent of Gross State Domestic Product.

Meanwhile, opposition Congress and BJP termed the budget “disappointing”.BM

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