Bhubaneswar: For the upcoming financial year, Odisha Government has announced a budget Size of Rs 2.30 lakh crore, which is 15 % higher than the budget for the current financial year 2022-23.
The focus of the budget is to achieve rapid and inclusive growth through the development of human resources and capital assets for long-term economic growth, said Finance Minister Niranjan Pujari while presenting the Budget for 2023-24 in the Odisha Assembly on Friday.
The State Government always accords the highest priority to the aspirations of the people of Odisha through a vision to build a “New Odisha – Empowered Odisha”. The focus of the State Government has been to improve service delivery and quality infrastructure development to transform the economy of the State. Due to favourable economic conditions, the Economy of Odisha has grown at a higher rate than the national economy during the current financial year 2022-23, said Pujari.
Finance Minister Niranjan Pujari today presented a digital copy of Budget 2023- 24 to Chief Minister Naveen Patnaik at Odisha Legislative Assembly.
In FY 2023-24, a major chunk of the State Government’s total resources is estimated to be generated through the State’s own tax and own non-tax revenue. Rs 53,000 crore is projected to come from its own tax revenue and Rs 52,500 crore from its own non-tax revenue.
The state’s own revenue is estimated to contribute 46 % of the total resource. Apart from this, the State’s share in Central tax, grants from the Centre, and capital receipts together contribute 54%.
As far as public spending is concerned, State Government has allocated the highest share towards programme expenditure of ₹125,000 crore, which is an increase of 25% over FY 2022-23. The second largest spending item is Establishment, Operation and Maintenance related expenditure.
Here are the highlights for Odisha Annual Budget for 2023-24:-
Budget Highlights
Allocation for Important Sectors
Allocation for Flagship programmes
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