The State Council of Ministers headed by Chief Minister Naveen Patnaik on Thursday approved a Supplementary Budget of Rs 3,860 crore for the 2014-15 fiscal.
Finance Minister Pradip Amat would present the Supplementary Budget in the Winter Session of the State Assembly beginning from November 20. Sources said the Supplementary Budget approved on Thursday is nearly 50 per cent less than the Supplementary Budget of the last fiscal, which had stood at Rs 7,144.58 crore.
This year's Supplementary Budget includes provision of Rs 172 crore for agriculture and Rs 15 crore for the Nabakalebar festival of lord Jagannath at Puri. Sources said the shortfall in this year's Supplementary Budget was caused by sharp decline in collection of both tax and non-tax revenues. While tax revenue of Rs 7,502 crore was targeted to be collected by October-end, only Rs 7,024 crore was mopped up.
Similarly, a non-tax revenue of Rs 2,343 crore was collected by October-end as against the target of Rs 3,275 crore. Finance Minister Amat attributed the shortfall to the closure of mining activities. However, he said the targeted revenue would be collected in five months left for the fiscal. Sources said 39 per cent of the allocations made in the main Budget has been spent so far. A senior Minister attributed the low expenditure to the shortage of manpower and machinery.