Odisha’s fiscal performance shows upward trend

State

Bhubaneswar, Aug 10

Odisha’s fiscal performance has shown upward trend in the first quarter of 2018-19 ending in July, official sources said today.

Growth was registered both in the revenue generation and utilisation of budgeted allocation, they said.

This came to fore in the secretaries meeting held today under the Chairmanship of chief secretary A P Padhi where finance secretary AK Meena outlined the financial updates of the state for discussion.

Review of the fiscal performance showed that budget utilisation on different plans, programs and schemes up to July, 2018 has been Rs 1,7983 crore thereby showing the growth of more than 10 per cent over corresponding period of last fiscal year, the sources said.

The social sector spending by end of July of current year has grown by 23 per cent (with actual spending of Rs 9,544 crore) over the corresponding period of 2017-18.

Similarly, the expenditure under agriculture and allied sector has reached Rs 3,516 crore and the expenditure in infrastructure sector has touched Rs 2,840 crore. The expenditure in agriculture and allied sector and infrastructure sector has reached Rs 3,993 crore and Rs 3,245 crore respectively, official sources said.

Keeping pace with the expenditure, the total revenue generation has also grown around 33 per cent by end of July, 2018, they said.

The total revenue generation by July end in last fiscal year (2017-18) was around Rs 9,807 crore against which current year collection up to same period has been Rs 13,015 crore.

The revenue from own tax sources during current fiscal has grown by 27 per cent with total collection of Rs 9,536 crore and the revenue from non-tax sources have grown by 51 Percent with a total collection of Rs 3,479 crore.

The revenue generation from mining royalty and vehicle taxes has shown highest increase of around 72 per cent and 42 per cent respectively, Meena said.

The total collection from mining royalty has been around Rs 3,039 crore against last year’s collection of Rs 1,769 crore up to July end.

Similarly, the revenue collection from vehicle tax has grown up to Rs 571 crore against last year’s collection of Rs 404 crore during the same period.

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