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Budget Utilization On Rise

Bhubaneswar: While Budget utilization during Current Fiscal has increased, the State Government has urged the Development Departments to take steps to further increase the pace of expenditure to ensure full utilization of Budget Provision.

Vishal Dev, Principal Secretary Finance has presented detailed report on Fiscal Performance up to December 2022 in the All Secretary Meet held on 4 January.

Principal Secretary Finance has informed that the Budget Utilization has increased by about 1.15%.

There is also increase in expenditure by 25.6% against 22.5% increase in Budget Provision.

So far Programme expenditure as percentage of Budget Provision is 46.34% till December, 2022 compared to 45.20% during previous year.

Total expenditure as percentage of Budget Provision, which includes Budget Estimate and supplementary Budget is 54% till December, 2022 which shows 2.6% increase in budget utilization compared to previous year.

Utilization in Agriculture & Allied Sector is 54.4% compared to 53% previous year.

Infrastructure spending is 53% against 34.6% previous year.

Percentage utilization of budget in social sector is 54.9% compared to 53.1% previous year.

The Programme Expenditure in Agriculture and Allied sector till December, 2022 has been 53.2% of BE compared to 52.5% previous year.

Budget utilization has increased by about 0.7% over previous year. In absolute term, it has increased by 20.2%.

The Programme Expenditure in Infrastructure till December 2022 is 54.7% of BE compared to 32.7% previous year. In absolute term, it has increased by 103%. 

The Social Sector Programme Expenditure till December, 2022 is 46.5% of BE compared to 46.4% against previous year. 

Programme expenditure in other sectors till December, 2022 has been 32.8% compared to 48.2% previous year.

The total programme expenditure till December, 2022 is 46.3% of BE in comparison to 45.2% previous year.

The Budget utilization has increased by 1.1% and 25.6% increase in spending under programme expenditure during this period.

Parking of funds at the bank account of the implementing agencies should be avoided, advised Principal Secretary Finance.

Submission of Utilization Certificate to be presented in time and it should be given priority to ensure release of Central Assistance, pointed out a senior officer..