Bhubaneswar: The State Government has sought proposals from different administrative departments on the requirement of additional funds from the Supplementary Budget to be presented in the Assembly during winter session.
The Finance Department has issued a circular to all departments recently. As per the circular, the Departments may need some internal realignment of budget allocations to give effect to certain policy decisions, like — implementation of new schemes and programmes, new CSS Schemes of Government of India, and other evolving development and welfare priorities of the Government.
There have also been instances of re-appropriations so as to meet any additional requirement by surrender under appropriate units of expenditure. These issues would be addressed in the Supplementary Statement of Expenditure, 2024-25.
Accordingly, proposals for inclusion in the Supplementary Statement of Expenditure are required to be submitted to the Planning & Convergence Department and Finance Department strictly in accordance with the guidelines by October 30.
The State Government has identified 10-pillars of development, viz. Annadata, Nari Shakti, Samajika Nyaya, Uttama Swasthya Seva 0 Sikshya Byabastha, Ease of Living, Moulika Nagarika Subidha, Vikasita Gaon-Vikasita Sahara-Vikasita Odisha, Shilpa, Rojagar 0 Karma Nijukti, Odia Asmita 0 Jagannath Sanskruti and Peoples Government.
The State Government is on the mission mode to achieve very high standards of public service delivery, with focus on inclusive growth and improved quality of life for the citizens, the department said.
The Reserve Bank of India (RBI) has projected the country’s GDP growth rate at 7.2 percent. As per IME’s World Economic Outlook growth projections (April, 2024), India’s growth would be around 7% during FY 2024-25.
However, GSDP growth of the State will be 8% in 2024-25 as projected at the time of formulation of Annual Budget, 2024-25.
The revenue receipts till August, 2024 have registered a growth of 10% over the previous years’ collection. Total Expenditure (other than Debt Servicing) till August, 2024 is 23.4% of the 2024-25 (BE).
There is a need for expediting the pace of expenditure, while enhancing the capacity at the execution level to speed up infrastructure spending, Principal Secretary Finance, Saswat Mishra said.
While formulating the Annual Budget, 2024-25, the fiscal deficit was projected at 3.5% of GSDP for financing the Budget. Expenditures relating to livelihood and completion of the ongoing capital projects are to be assessed by the Departments in a holistic manner, so that economic activities in the State will get the required boost, he said.
Hence, Supplementary Statement of Expenditure, 2024-25 is proposed to be an exercise for re-prioritization of the Budget in which the Administrative Departments would be allowed to augment the provision in one unit only by locating equivalent savings in some other unit of expenditure.
High impact new Capital projects, announcements made by the Government from time-to-time and proposals for enhancing livelihood activities will be fully funded, he suggested.
The Department made it clear that proposals involving additional requirements under units, where expenditure till September 30, 2024 is less than 30% of Budget provision, shall not be considered for inclusion under the Supplementary Statement of Expenditure for the year 2024-25.