Odisha Budget 2023: Government presents 2.30 Lakh Cr budget, Focused on Infrastructure

February 24, 2023February 25, 2023 MTIMES

Bhubaneswar: Odisha Budget 2023: Odisha Finance Minister Niranjan Pujari presented the state budget for the financial year 2023-24 in the Legislative Assembly on Friday. The annual budget size is Rs 2,30,000 crore, which is about 30,000 cores more than the previous budget.

“We have aligned the budget with our beloved Chief Minister’s vision of building a new Odisha – an empowered Odisha: In the last 23 years, our government under the able leadership of Naveen Patnaik has not only been able to raise aspirations. of our people, but he was also able to meet them as the state embarked on an unprecedented growth trajectory. From a state that is often counted among the least developed states, Odisha is now surging ahead and leading the country in many sectors. Transformation is our only goal,” said the Finance Minister Pujari.

The budget supports human resource development, investment in physical and social infrastructure, healthcare for all, provision of social safety nets for the underprivileged and vulnerable and youth, women and scheduled tribes, and focuses on achieving rapid and inclusive growth through empowerment from scheduled castes, other lower classes, minorities, disabled and elderly.

The budget estimate for 2023-2024 envisages an expenditure of Rs 23 million. Capital expenditure in 2023-24 is Rs 5,168.3 billion, which is about 6% of GDP.

In addition, loans and advances, grants-in-aid for creation of capital assets and other expenditure on capital formation totaled Rs 1,242.1 billion or 1.4 per cent of GSDP.

This expenditure is proposed to be met by revenue of Rs 1,84,500 crore and borrowing and other revenue of Rs 45,500 crore.
The total revenue for 2023-24 includes central state tax of Rs 46,251 crore, state self tax of Rs 53,000 crore, non-tax revenue of Rs 52,500 crore and subsidy from the center of Rs 32,749 crore.

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