The Comptroller and Auditor General of India (CAG) on Thursday said the service sector was the biggest contributor to the Gross State Domestic Product (GSDP) with 37.16%, followed closely by industries sector at 31.73%, while agriculture sector contributed 18.61%.
Addressing a Press meet after the laying of the State finances audit
report for the year and performance audit on surface irrigation up to
March 2021, Principal AGs Ananta Kishore Behera and Bibhudutta
Basantia said the GSDP of Odisha in 2020-21 at current prices was Rs
5, 09,574 crore and at constant prices was Rs 3, 76,998 crore,
registering a growth rate of (-2.24) % and (-4.92) % respectively over
the previous years.
They mentioned that the State recorded a revenue surplus of Rs 9,786
crore, which has increased significantly (273%) from revenue surplus
for the previous year (Rs 2,430 crore). The fiscal deficit (Rs 9,786
crore) was 1.92% of the GSDP.
The CAG in its report also highlighted that as of March 2021, loans
and advances given by the Government to the public sector companies,
autonomous bodies and corporations were worth Rs 9,076 crore. They
rose from Rs 4,708 crore in 2016-17 to Rs 9,076 crore in 2020-21 and
the major portion of loans advanced during 2020-21 was to the Indian
Oil Corporation Limited (Rs 700 crore).
As of March 2021, there were 80 SPSEs (State Public Sector
Enterprises) under the audit jurisdiction of the CAG. These included
62 Government companies, three statutory corporations and 15
Government controlled other companies.
The SPSEs were not adhering to the prescribed timelines regarding
submission of their financial statements as per the Companies Act
2013, the report said.
The report of CAG on State finances structured into five chapters
includes overview, finances of the State, budgetary management,
quality of accounts, financial reporting practices and the State
public sector enterprises.
The report also said State's own tax revenue (Rs 34,258 crore)
increased by 6.01% over the previous year and non-tax revenue (Rs
19,518 crore) increased by 33.26% over the previous year.