Finance Minister Shashi Bhusan Behera on Thursday presented a Vote-on-Account of Rs 56,921 crore, out of the total Budget Estimates (BE) of Rs 1,32,600 for 2019-20, for the first four months from April to July 2019 for discussion and passing amid protests and walkouts by Opposition Congress and BJP members.
“Keeping in view the requirement of funds for expenditure on payment of salary, pension, interest, old age pension, scholarship for SC and ST students, and other ongoing scheme and programmes, a sum of Rs 56,921 crore has been proposed in the Vote-on-Account before the House to defray the expenses during the first four months of the financial year from April to July 2019,” said Behera.
While presenting the Budget Estimates, Behera informed that Odisha has been able to achieve a better economic growth of 8 per cent in last six years compare4d to the national average of about 7.1 per cent. The State’s economy can be expected to grow in the range of 8 per cent to 8.35 per cent during 2019-20.
The Budget Estimates comprised administrative expenditure of Rs 58,170 crore, Programme Expenditure of Rs 66,000 crore, disaster response fund of Rs 2,000 core and Transfers from the State of Rs 6,490 crore.
Behera further informed that the revenue receipt of the 2019-20 fiscal has been worked out at Rs 1, 10,710 crore and the revenue expenditure at Rs 1,02,227 crore. A revenue surplus of Rs 8,433 crore is anticipated at the end of the next fiscal which would be nearly 1.6 per cent of the GSDP. The estimated fiscal deficit of Rs 16,193 crore would amount to 3 per cent of the GSDP, said Behera.
“We have given focus on farmers and farmers’ welfare by allocating Rs 19,557 crore to Agriculture and allied activities, 16.7 per cent more than the allocation of the previous year. While 4,461 crore has been set for KALIA scheme, Rs 800 crore allocated for interest subvention on crop loans,” informed the Finance Minister.
Similarly, Rs 1,028 crore for the State Food Security, Rs 2,120 crore for Madhubabu Pension Yojana, Rs 864 crore for the Biju Swashtya Kalyan Yojana, Rs 578 crore for Mukhya Mantri Swasthya Seva Mission, Rs 1,655 crore for MAMATA, Rs 1,059 crore for ICDS, Rs 1,036 crore for Supplementalry Nutrition Programme, Rs 300 crore for Adharsh Vidyalay, Rs 2,550 crore for Samagra Sikhya, , Rs 3,600 crore for rural housing have been allocated.
The Minister further informed that Rs 1,777 crore has been allocated for the Parbati Giri Mega Lift Irrigation project, Rs 400 crore for development of railway projects, Rs 401 crore for Urban Transformation Initiative has been allocated.
The State’s loan burden now stands at Rs 79,789 crore and is expected to be Rs 87,650 crore by March 31, 2019, informed Finance Secretary Ashok Kumar Meena at a Press meet held in the Assembly premises. “The State’s loan burden is 18 per cent to the Gross State Domestic Product (GSDP), which is much below the norm of 25 per cent GSDP. The loan burden is expected to Rs 1,03,843 crore at the present rate,” informed Meena.
The Vote-on-Account covers 100 per cent of Budget Estimates for calamity and election related expenses and 40 per cent of Budget Estimates of Budget Estimates for all other schemes. The Vote-on-Account includes election expenditure of Rs 90 crore, proposed by the Election Commission of India, said Meena.