A day after Chief Minister Naveen Patnaik alleged that the State’s share in tax devolution would come down and lose Rs 4,600 crore over a period of five years due to inclusion of new criteria, Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday said the State would in fact get more funds per year due to the new propositions. Pradhan explained that the Fourteenth Finance Commission has set the criteria to release funds for the States according to its four-point formula. Due to the new criteria, Odisha’s share has come down to 4.62 per cent against 4.77 per cent set by the Thirteenth Finance Commission, he told reporters here.
“Though the tax devolution came down, Odisha will get Rs24,416 crore per year than the last Finance Commission’s recommendation of Rs16,630 crore per year,” said Pradhan, adding, “The financial quantum has been increased, as a result of which the State would get extra Rs7,800 crore per year.” He said the Centre has increased Central tax shares by 10 per cent, as a result of which the States, including Odisha, would get more funds from the Centre. On State’s concern about fund for the Nabakalebar, Pradhan said the Centre would extend all help to conduct the festival smoothly. “Prime Minister Narendra Modi has assured Gajapati Maharaja Dibyasingh Deb to provide assistance for success of the Nabakelebar-related works,” he added.