Home Finance Assembly Clears Appropriation

Assembly Clears Appropriation

Bhubaneswar: The State Legislative Assembly on Saturday passed the Odisha Appropriation Bill, 2022 giving green signal to the State Government to spend Rs 2 lakh crore from its consolidated fund during the financial year 2022-23.

Finance Minister Niranjan Pujari said Rs 89,590 crore has been allocated as Administrative Expenditure, Rs 1 lakh crore as Programme Expenditure, Rs 3,210 crore for Disaster Management and Rs 7200 crore towards Transfers from the State.

The total Programme Expenditure outlay for the financial year 2022-23 estimated at Rs 1 lakh crore, which is 33 per cent more than the allocation of 2021-22, he said.

Similarly, he said, the capital outlay in 2022-23 is Rs 38,732 crore, which is about 5.4 per cent of GSDP and 56 per cent increase over the previous year.

A total sum of Rs 12,624 crore has been proposed for public health care, which is an increase of about 25 per cent over previous year’s provision.

Similarly, an allocation of Rs.27,324 crore has been made for the education and skill development sector and Rs 21,166 crore for agriculture & allied activities, said the Finance Minister.

An outlay of Rs 1,325 crore under ABHADA scheme, while Rs 200 crore allocated for each of EKAMRA and SAMALEI schemes, he pointed out.

Moreover, the government has allocated Rs 14,454 crore during the year 2022-23 for construction and improvement of roads in the state.

Informing about financing for the year, Mr.Pujari said the outlay is proposed to be financed mainly through revenue receipts of Rs.1,63,967 crore and borrowing and other receipts of Rs.36,033 crore.

The total revenue receipts for the year 2022-23 include State’s share in Central Taxes for Rs.36,978 crore, State’s Own Tax revenue for Rs.46,000 crore, Own Non-tax revenue for Rs.48,200 crore and grants from Centre for Rs.32,789 crore. Thus, the Own Revenue/GSDP ratio would be 13.20 per cent in 2022-23, he informed.

The Fifteenth Finance Commission and Odisha FRBM Act, 2005 prescribe for limiting the debt to GSDP ratio within 25%. The current debt level of Odisha is 15.2 per cent, which within the stipulated debt limit, said Mr.Pujari.