State Adopts Fiscal Prudence

Governor Professor Ganeshi Lal has said that the State Government is committed to increase investment in priority sector within prudent fiscal norms and at the same time, it is capable of increasing capital investment to above five per cent of Gross State Domestic Product(GSDP).

 Addressing State Legislative Assemby on the opening day of the Budget Session on 14 February, the Governor said, the State Government has achieved debt sustainability from a position of debt stress. The debt-GSDP ratio has been brought down from 50.7 per cent in 2002-03 to 16.8 per cent in 2018-19. The interest payment to revenue receipt ratio has been brought down from 40.2 per cent in 2001-02 to 5.8 per cent in 2018-19.

Prof.Lal said "Prudent level of debt stock has given us an opportunity to go for higher capital investment for accelerating the growth momentum”.

Stating that the State Government is committed to the welfare of weaker sections of the society, the Governor announced sanction of 100 hostels with accommodation capacity for 10,000 OBC and Socially and Educationally Backward Caste (SEBC) students to help them access higher education in 14 major urban educational hubs in Odisha.

On the welfare measures for farmers, the Governor said their income has more than doubled and Odisha is poised to multiply it through more proactive developmental interventions in line with the national agenda of doubling the farmer’s income.

The State Government has remained watchful of the development of the people of low-income group and introduced the KALIA scheme for this purpose.

A goal has been fixed to include 50 lakh small and 25 lakh landless farmers families under this scheme in the coming days, the Governor said.

The Governor said that the State Government has brought services of agriculture under the 5Ts and Mo Sarkar program from December, 2019 with the objective of enhancing the delivery mechanism and reaching out to every corner of the state.

"Every district has in place a 'Mo Sarkar' desk to take on the program at a great pace, he said.
 
The State Government believes in peoples participation in administration and in this direction the programs like 5Ts and Mo Sarkar are important enterprises, pointed out the Governor.

'Mo Sarkar', which means 'My Government' in Odia, is a transformative initiative of 5-T program, which was introduced by Naveen Patnaik after he returned to power as the Chief Minister of the state for a fifth consecutive term in 2019.

The '5-Ts' are transparency, teamwork, technology and time leads to transformation.

Prof.Lal described the State Governments steps for development of infrastructure facilities around Shree Jagannath Temple in Puri and said similar measures are also being taken to transform the facilities near the Shree Lingaraj Temple in Bhubaneswar.
 


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