Final touches being given to Odisha budget 2015-16

05 Feb, Bhubaneswar (odibizinfo)

With barely ten days left for the presentation of the Odisha Annual Budget 2015-16 in the state Assembly, Finance Minister Pradip Kumar Amat has undertaken the final process of sectoral allocation of funds.
The state’s annual budget for 2015-16 is scheduled to be presented on February 16 in the Assembly which would commence from tomorrow- Thursday.

The size of the state’s annual budget in 2013-14 was Rs 60,000 crore and Rs 80,000 crore in 2014-15, It is expected that the annual budget of the state in the current fiscal will be around Rs 90,000 crore.

With the recommendation of the 14th Finance Commission to increase the Central assistance from 42 percent to 50 percent, Odisha is expected to get an additional Rs 6000 crore assistance in the current fiscal.

The state government is also optimistic about meeting its revenue collection target as the process for action of mines has begun in the state.

It is also hoped that the there will be more budget allocations for infrastructure development works for the ensuing Nabakalebara festival.

Besides, as the state government has given top priority to the development of agriculture sector and has been formulating special agri budget since last two years, it is expected that there will be more allocations on this sector in this year’s budget.