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Odisha’s revenue generation up by 23% by Dec end

Fiscal performance

Bhubaneswar: The State’s revenue generation by December-end of the current financial year, 2017-18, grew by 23.33 per cent over the corresponding period of the last fiscal. A review meeting held under chairmanship of Chief Secretary AP Padhi at the Secretariat revealed on Tuesday.

Data presented by Finance Principal Secretary Tuhin Kanta Pandey showed an overall increase of around 23.33 per cent in revenue generation from both the own tax and non-tax sources.

While revenue collection from own tax was Rs 19,722 crore against, the collection from non-tax sources stood at Rs 5,291 crore. The total revenue generation from both the tax and non-tax sources during 2017-18 stood at Rs 25,013 crore by December 31, 2017 against Rs 20,282 crore collected during corresponding period of 2016-17. Like revenue collection, expenditure also rose by 5.62 per cent at December-end. Various departments spent a total of Rs 59,572 crore by December 31 against Rs 56,456 spent during the last corresponding period.

While Rs 24,965 crore spent in the social sector, Rs 8,821 crore spent in agriculture and allied sector and Rs 9,889 crore spent in infrastructure and building sector. The Chief Secretary advised the Secretaries to look into convergence of budgetary and non-budgetary resources of their respective departments for more effective use of the resources.

The State’s Annual Budget is expected be presented in third week of February after presentation of Union Budget. Padhi directed all departments to furnish information for the 15th Finance Commission by April 15, 2018.

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