Fiscal On Upward Move

State’s Fiscal Performance shows an upward trend by end of July of the current fiscal year in both its major components of revenue generation and utilisation of budgeted allocation.

This came to fore in the All Secretaries meeting held today under the Chairmanship of Chief Secretary Aditya Prasad Padhi in State Secretariat held  today in which Principal Secretary Finance Ashok Kumar Meena outlined the financial updates of the State for discussion.

Reviewing fiscal performances of various departments up to July 2018, Chief Secretary Mr.Padhi directed the departments to implement the developmental projects in convergence with DMF in major mining districts.
Mr.Padhi also directed the departments to avail all required clearances against the Government buildings being constructed in different parts of the State.

Development Commissioner R Balakrishnan advised for preparation, sanction and implementation of more need based projects under District Mineral Fund (DMF). 

Agricultural Production Commissioner, Gagan Kumar Dhal, Additional Chief Secretary Home, Asit Kumar Tripathy, Additional Chief Secretary Micro Small & Medium Enterprises, Laxmi Narayan Gupta along with Principal Secretaries , Secretaries and Special Secretaries of all departments participated in discussions.

Review of the fiscal performance showed that budget utilization on different plans, programs and schemes up to July, 2018 has been Rs.17983 crore thereby showing the growth of more than 10 Percent over corresponding period of last fiscal year.

The Social sector spending by end of July of current year has grown by 23 Percent (with actual spending of Rs.9544crore)   over the corresponding period of 2017-18. 

The projects under this head are executed and monitored through the departments of School & Mass Education, ST & SC Development, Health & Family Welfare, Panchayati Raj & Drinking Water, Women & Child Development and Mission Shakti, Higher Education, Skill Development and technical Education, Social Security and Empowerment of Persons with Disability.

Similarly, the expenditure under agriculture & allied sector has reached Rs.3516 crore and the expenditure in infrastructure sector has touched Rs.2840 crore. Similarly, the expenditure in agriculture & allied sector and infrastructure sector has reached Rs 3993 crore and Rs3245 crore respectively.

Keeping pace with the expenditure, the total revenue generation has also grown around 33 Percent by end of July, 2018. 

The total revenue generation by July end in last fiscal year (2017-18) was around Rs.9807 crore against which current year collection up to same period has been Rs. 13015 crore.

The revenue from own tax sources during current fiscal has grown by 27 Percent with total collection of Rs.9536 crore and the revenue from non-tax sources have grown by 51 Percent with a total collection of Rs.3479 crore.

The revenue generation from Mining Royalty and Vehicle taxes has shown highest increase of around 72 Percent and 42 Percent respectively.

The total collection from mining royalty has been around Rs.3039 crore against last years’ collection of Rs.1769 crore up to July end.

Similarly, the revenue collection from vehicle tax has grown up to Rs.571 crore against last years’ collection of Rs.404 crore during the same period.  

Available data show, Odisha as a leading state in DMF collections has generated around Rs.5013 crore up to July, 2018. So far, 8163 number of projects in the sectors of physical infrastructure, irrigation, energy, watershed, afforestation and others have been sanctioned under the fund. An amount of Rs. 3047 crore has already been allotted against these projects.

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