Bhubaneswar: Chief Minister Mohan Charan Majhi today presented the Annual Budget for the financial year 2025-26 with a total outlay of Rs 2.90 Lakh Crore, with focus on agriculture, health, education and infrastructure.
While presenting the second Budget of the new BJP government, Shri Majhi said the Budget Estimates for the year 2025-26 against the Budget Estimates for the previous year of Rs 2.65 lakh crore.
Out of the total Budget Estimates, Program Expenditure is Rs 1.08 lakh crore, Administrative Expenditure is proposed at Rs 17,000 crore, an outlay of Rs 4,000 crore for Disaster Risk Management Funds while Transfers from State have an outlay of Rs.8,000 crore.
“I propose the Budget Estimates for the year 2025-26 for Rs.2,90,000 crore. I propose to increase the Program Spending of Rs.1,70,000 crore in the Budget Estimates, 2025-26, which is about 59% of the total Budget Estimates.
Capital Outlay of Rs.65,012 crore estimated in this Budget is 6.1 per cent of the Gross State Domestic Product (GSDP), which is one of the highest among all major States in the country, Majhi said in his speech.
He proposed to transfer Rs 3311 crore on the recommendations of 15th Finance Commission and around Rs.4559 crore on the recommendations of the 5th State Finance Commission to the rural and urban local bodies of the State.
The outlay of Rs.2,90,000 crore is proposed to be financed mainly through revenue receipts of Rs.2,32,000 crore and borrowing and other receipts of Rs.58,000 crore, he said.
Total revenue receipts for the year 2025-26 include State’s Own tax for Rs.66,000 crore, Own Non-tax revenue of Rs.60,000 crore, State’s share in Central taxes for Rs.64,408 crore and grants from Centre for Rs.41,592 crore, the Chief Minister said.
He further said, “We will be able to generate revenue surplus of about 3 per cent of GSDP and fiscal deficit will be limited to 3.2 per cent of GSDP for the year 2025-26. Thus, the Annual Budget, 2025-26 would be FRBM compliant.”