Bhubaneswar:24/2/23: Odisha Finance Minister Niranjan Pujari on Friday presented the annual State Budget for the financial year 2023-24 in the State Legislative Assembly.
The size of the annual Budget is Rs 2,30,000 crore, which is about Rs 30,000 core more or an increase of about 15 per cent from last year’s budget
The Budget 2023-24 focuses on achieving rapid and inclusive growth through development of human resources, investment in physical and social infrastructure, health care for all, provision of social safety nets for the disadvantaged and vulnerable sections and empowerment of youth, women, Scheduled Tribes, Scheduled Castes, Other Backward Classes, Minorities, persons with disability and the senior citizens.
The Budget estimates for 2023-24 envisage an expenditure of Rs.2,30,000 crore. The capital outlay in 2023-24 is Rs.51,683 crore, which is about 6 per cent of GSDP. Additionally, loans and advances, grants for creation of capital assets and other expenditure for capital formation together account for Rs.12,421 crore, which is 1.4 per cent of GSDP.
The outlay is proposed to be financed through revenue receipts of Rs.1,84,500 crore and borrowing and other receipts of Rs.45,500 crore. Total revenue receipts for the year 2023-24 include State’s share in Central taxes of Rs.46,251 crore, State’s Own tax of Rs.53,000 crore, Own Non-tax revenue of Rs.52,500 crore and grants from Centre for Rs.32,749 crore.