In order to boost the economy, the Odisha Government plans to spend at least Rs 50,000 crore in three months of this Financial Year to speed up development process in the State, which will be done in a well monitored process.
While fiscal performance by December 30 was moderate, and spending by various administrative departments was comparatively less, so speeding up the spending on programme expenditure and infrastructure development is on cards. The Annual Budget Estimate envisaged total expenditure of Rs 1,56, 498 crore, while total spending by December 30 was Rs 75,321 crore. Accordingly, Rs 49,679 crore will be spent in January, February and March, 2021. While from April to December, the State was facing Covid-19 pandemic, spending had slowed down due to shutdown and lockdown. Due to the pandemic, the State economy suffered a lot. As the situation has improved, expenditure in programmes will be scaled up to a great extent. For programme expenditure Rs 80,729 crore has been allocated out of which Rs 31,254 crore has been spent till December 30, which is only 39 per cent.
According to sources, the departments will be able to spent a total of Rs 60,000 crore on programme expenditure by March 31 as during last nine months spending was not encouraging.So far as Revenue Receipts are concerned it has been budgeted that the State will receive Rs 1,25,000 lakh crore during 2020-21.
However, total Revenue Receipts by December 30 was Rs 67,923 crore and by March 31, it is expected that Rs 32,105 crore will be received. Odisha is receiving much less Central transfers though it was estimated that the Central transfer will be to the tune of Rs 68,300 crore by December 30. The State has received only Rs 33,872 crore on this count making a less 19.5 per cent of the receipts.