Odisha Finance Minister Niranjan Pujari tabled the annual budget for the 2022-23 financial year with an outlay of Rs 2 lakh crore in the State Assembly on Saturday.
The Finance Minister termed the budget, welfare, growth, development, and investment-oriented annual budget. This year’s budget outlay is 17.6% more in comparison to that of the previous year 2021-22. Like previous years, the 2022-23 budget has been bifurcated into two parts- the agriculture budget and the General budget.
The budget expenses will be met from the revenue sources of Rs 1,63,967 crore and Rs 3,633 crore from loan and other sources,
Administrative expenditure-Rs 89,590 crore
Programme expenditure-Rs 1,00,000 crore
Disaster Risk Management Fund -Rs 3,210 crore
Transfers from State-Rs 7,200 crore
Qualitative Aspects of the Budget
- The outlay of Rs1,00,000 crore for Programme Expenditure
- The allocation of Rs 21,166 crore for Agriculture and Allied sectors
- Allocation of Rs 27,324 crore for Education and Skills sector
- Allocation of Rs 12,624 crore for Health sector
- Investment of about Rs 8,385 crore for Piped Water Supply Projects under BASUDHA and Jal Jeevan Mission
- Allocation of Rs 32,596 crore for development of SCs and STs for identified Schemes in the Programme budget
- Own Tax-GSDP Ratio for 2022-23 (BE) would be 6.4%
One’s dependence on Central transfers has reduced with State’s own revenue contributing about 57% to the total revenue pool. Revenue Surplus is projected at 2.5% of GSDP. Fiscal Deficit was kept within the prescribed limit of 3% of GSDP. The capital outlay in 2022-23 is Rs 38,732 crore, which is about 5.4 percent of GSDP.
Chief Minister Naveen Patnaik said that” Priority of the Budget is to create quality healthcare facilities, quality education including school transformation, life, and livelihoods, women empowerment as well as infrastructure development. this Budget will meet the aspiration of the people of the State”
Opposition chief whip Mohan Majhi said that” This budget does not contain anything new for poor and worker sections. There is no provision in this budget to generate capital. Hence, the State’s own revenue has declined. The State’s budget is completely dependent on the Central government”
“This budget is a disappointing one. The economically weaker section has nothing to celebrate” said Congress MLA Mohammed Moquim.