Bhubaneswar: Yesterday, on 18th March, the Finance Minister of Odisha- Pradeep Kumar Amat has presented a budget for 2016- 17 which is figured at Rs. 91,052.65 crores, with focus on agriculture and social sectors. This time, the Budget allocation is 11.32% as seen increased against the last finance year that was Rs. 84.487.77 crores. Moreover, the ministry has estimated, total non- plan expenditure at Rs. 48,096.49 crores while the annual plan for the financial year will be Rs. 50,000 crores. Moreover, the budget allocation under the central plan is Rs. 311.33 crores and centrally sponsored schemes is at Rs. 44.83 crores.
As per the Odisha Finance Minister- Pradeep Kumar, the plan outlay is including Rs. 45,600 crores for the Government sector and also Rs. 4.400 crores for the public sector undertakings, while non- plan expenditure includes 18,800 crores of rupees for salaries, 9,500 crores of rupees for Pensions and 4,650 crores of rupees for interest payments.
For capital outlay, the budget enhanced grants to Rs. 16,749 crores, which as per Minister- Pradeep Kumar is at 4.37 per cent of the gross state domestic product.
Also, for general education, the total outlay is pegged at Rs. 13,396.35 crore (13.61 percent of the total), moreover, the for the agriculture and allied sectors, the outlay is pegged at Rs. 13,181.89 crores (14.02 percent of total), as mentioned by the Minister.
Moreover, through the estimated revenue receipts- Rs. 78,126.72 crores, Loan recovery- Rs. 185.15 crores and Borrowing and other receipts of Rs. 15,740.78 crores, the budget expenditure will be financed, as per Minister.
For the finance year 2016- 17 the total revenue receipts including the share of the state in the central taxes, is at Rs. 26,567.56 crores, and State’s own tax is at Rs. 23,200 crore and State’s own non- tax revenue is at Rs. 9,822.93 crores and grants from the Centre is at Rs. 18,536.23 crores.
Rs. 615 crore are taken for the purpose of timely completion of the five medical colleges at Balasore, Puri, Koraput, Balangir and Baripada, as stated by the Finance minister. Also other budget provisions are also made, where provisions for setting up of de- addiction centres, etc. are also found mentioned.