Bhubaneswar: This is the first budget in Post COVID Scenario and there are lot of new challenges which this budget is expected to address, said Odisha Chief Minister Naveen Patnaik in his reaction on Union Budget 2021-22 presented by Union Finance Minister Nirmala Sitharaman on Monday.
The Odisha CM pointed out some of the positive aspects of the budget which are mentioned below:-
- Focus on capital investment to push growth
- Reintroduction of developmental financial institution
- Allocation for COVID vaccine
- Industry and sector-specific interventions offer hope if matched with the allocation
- Bold decision to expand fiscal deficit to provide growth impetus.
- A medium and long term vision for ‘Self-reliant India’.
However, Odisha would be hit by drastic reduction of share in central taxes by about Rupees Ten Thousand Eight Hundred Forty Crores for the current year and as per the recommendations of the 15th Finance Commission, the horizontal share will decrease from 4.629 per cent to 4.528 per cent for coming 5 years. This will seriously impact the State, said the Chief Minister of Odisha.
“Further capital investments very much required in Odisha both in railways and highways sectors as it has been planned for other states,” Naveen said and added that there is a need to increase allocation in social assistance programmes and quantum of transfers for local bodies.
Centralization of revenue by the introduction of cess in petrol and diesel will weaken the centre-state fiscal balance. Banks have to be made accountable to extend credit to women, farmers and MSMEs, he further said.
Naveen said, “I am happy to note that the Union Budget has turned Green with digital budget like what Odisha has been following from last year.
“I am also delighted to see Mission Shakti appear in union budget focusing on women empowerment. After Odisha’s Mamata scheme was adopted by union Government from 2011-2012, replication of our state’s flagship women empowerment initiative Mission Shakti clearly shows that Odisha sets benchmark for the nation. I am hopeful that after Mamata and Mission Sakti the next logical step towards women empowerment would be reservation for women in Lok Sabha and the State Assemblies. We will continue to fight for this,” the Odisha CM concluded.