India News | Odisha Govt Presents Rs 2-lakh Cr Budget for FY 23

Bhubaneswar, Jul 2 (PTI) The Odisha government on Saturday presented a Rs 2-lakh crore budget for the 2022-23 financial year in the state assembly with a focus on strengthening infrastructure, developing education and health sectors and improving livelihoods of people.

Odisha Finance Minister Niranjan Pujari claimed that the estimated outlay for the current financial year is the "highest" in the history of the state budget, and is around 17.6 per cent more than the Rs 1.7 lakh crore allocated for the last fiscal.

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He also said Rs 1 lakh crore of the total budgetary estimates is the planned expenditure.

"Over the last twenty-two years, there had been a seventeen-fold increase in the size of the state budget and we are touching the landmark figure of Rs 2 lakh crore this year," Pujari said.

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The capital outlay in FY23 was estimated at Rs 38,732 crore, which was around 5.4 per cent of the Gross State Domestic Product.

"As a sign of our economic prosperity, the share of our own revenue in the state budget has exceeded the devolution of taxes from the central government by a substantial margin," he said.

Chief Minister Naveen Patnaik said the state budget is "progressive, pro-poor and development-oriented".

The objective of the budget is to create quality healthcare facilities, strengthen education ecosystem, improve life and livelihoods and women empowerment besides infrastructure development, the chief minister said.

The capital spending will increase by more than 56 per cent, which will foster growth, Patnaik said, adding that a separate budget for 'Mission Shakti' with allocation of Rs 2,000 crore will further deepen the state's engagement with 70 lakh women.

The state government had in March presented a vote-on-account for the first four months of 2022-23.

The full-fledged budget could not be presented that time due the panchayat and urban polls in the state.

The vote on account was required for expenditure on payment of salary, pension and other ongoing schemes and programmes, the minister had said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)