Odisha Presents Vote On Account For 4 Months

Odisha Finance Minister Niranjan Pujari on Wednesday presented the vote on account of Rs 1,06,498 crore for the first four months of 2022-23 fiscal and announced a total budget outlay of Rs 2 lakh crore for the next financial year.

Since the full-fledged budget could not be presented in view of the panchayat and urban polls in February and March, the vote on account was required for expenditure on payment of salary, pension, interest, calamities expenditure and other ongoing schemes and programmes, the minister said.

The vote on account will cover expenditures for April, May, June and July of the financial year.

The total Budget size for 2022-23 fiscal is Rs 30,000 crore more than the Annual Budget of the last fiscal 2021-22, he said.

The minister said the state's economic growth rate in 2022-23 is estimated to be 9 to 9.5 per cent compared to the national growth rate of 7.8 per cent.

He said the Tax GSDP Ratio for 2022-23 would be 6.4 per cent.

“Our dependence on Central transfers has reduced with the state’s own revenue contributing about 58 per cent to the total revenue pool. Revenue Surplus is projected at 2.7 per cent of GSDP while fiscal deficit kept within the prescribed limit of 3 per cent of GSDP," Pujari said.

The capital outlay in 2022-23 is Rs 40,011 crore, which is about 5.6 per cent of GSDP.

The Revenue Receipt of the Financial Year 2022-23 has been worked out at Rs 1,63,967 crore and the Revenue Expenditure has been estimated at Rs 1,44,349 crore.

The estimated revenue surplus is of the order of Rs 19,618 crore, which would be 2.7 per cent of GSDP. The estimated fiscal deficit of Rs 21,588 crore would amount to 3 per cent of GSDP,