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HIGHLIGHTS OF INTERIM ODISHA BUDGET 2019-20

HIGHLIGHTS OF INTERIM ODISHA BUDGET 2019-20 Featured

Report;Bureau,Odishabarta 

Bhubaneswar,07/02/19:Today, Finance Minister Shashi Bhusan Behera presented a welfare, growth, development and investment-oriented Budget (Vote-on-Account) for 2019-20 in the Odisha Legislative Assembly with an outlay of Rs 1,32,660 crore which is about 10.4% more than the Annual Budget 2018-19. 

The term of the 15th Assembly will expire within a few months and general elections will be held. The Model Code of Conduct for General Elections will come into force after the announcement by the Election Commission of India. Customarily, the new Government has the prerogative to formulate new programmes and schemes. Accordingly, instead of presenting a full-fledged budget we proposed to seek a Vote-on-Account to enable the Government to incur expenditure for the first four months of the financial year 2019-20 on the existing establishment and ongoing schemes and projects.

TOTAL STATE BUDGET/EXPENDITURE 

Total estimated Budget for FY 2019-20 is Rs 1,32,660 Cr. This is 10.43 percent higher than the budget of FY 2018-19 (RE), which was Rs 1,20,125 Cr. However the growth of budget for FY 2018-19 (RE) over the budget for 2017-18 (Actual) was 23%. The actual expenditure for 2017-18 was Rs. 97511.48 Cr. 

Proposed outlay for FY 2019-20 will be financed mainly through revenue receipt of Rs 1, 10,720 Cr (combined receipt from Centre and state) and other receipts including borrowings of Rs 20800.00 Cr.

LOAN BURDEN 

Borrowing for FY 2019-20 is estimated at Rs. 20800 Cr. which is Rs. 3858 Cr. more than the previous year. Total debt stock at the year-end 2019-20 is estimated at 103842.86 Cr. which is 19.20% of the GSDP. It was Rs 87649.86 Cr. (18.03% of GSDP) during 2018-19(RE). So the net debt for the year 2019-20 is Rs 16193.00 Cr. 

OWN REVENUE 

Total Receipt from Government of India (GoI) (i.e. state’s share in Union taxes and Grant in Aid) will increase from Rs 61382.14 Cr in FY 2018-19 (RE) to Rs 65710 Cr in FY 2019-20. Yet, the share of Odisha’s own revenue in total revenue receipts is very less. During 2018-19(RE), own revenue was 39.75% of the total revenue receipt of the state, however for 2019-20(BE) own revenue is 39.65% of the state’s total revenue receipt. 

BUDGET FOR HEALTH AND FAMILY WELFARE 

The allocations for Health and Family Welfare have increased from in Rs 6158.95 Cr in 2018-19(RE) to Rs 6729.51Cr. in 2019-20(BE) with an increase of Rs 570.57 Cr. However, the share of health expenditure in the state budget has decreased from 5.12 per cent in 2018-19 (Re) to 5.07 per cent in 2019-20. Similarly as % of GSDP health and family welfare budget is 1.24% for 2019-20(BE) which was 1.275 for 2018-19(RE). 

The allocations for Health and Family Welfare have increased from in Rs 6158.95 Cr in 2018-19(RE) to Rs 6729.51Cr. in 2019-20(BE) with an increase of Rs 570.57 Cr. However, the share of health expenditure in the state budget has decreased from 5.12 per cent in 2018-19 (Re) to 5.07 per cent in 2019-20. Similarly as % of GSDP health and family welfare budget is 1.24% for 2019-20(BE) which was 1.275 for 2018-19(RE).

There is an increase of Rs 320 Cr in Capital expenditure from Rs 652 Cr in 2018-19(RE) to Rs 972 Cr. in 2019-20(BE). This is mostly towards new Government Medical Colleges in the State.

WATER AND SANITATION 

Total Budget of Water Supply & Sanitation for FY 2019-20 is Rs. 6638.09 Cr which has a hike of 4.08 per cent in compared to last financial year. During 2018-19(RE) FY it was Rs. 6377.41Cr. 

Budget of Buxi Jagabandhu Assured Water Supply to Habitations (BASUDHA) is Rs. 2935 Cr which has a hike of sharp 54 per cent in comparison to last financial year. During 2018-19 (BE) FY it was Rs.1350 Cr. 

BUDGET FOR SCHOOL AND MASS EDUCATION 

For 2019-20(BE), an amount of Rs 16400.00 Cr has been allocated for School and Mass Education (S&ME) Department which was Rs. 15018.97 Cr. for 2018-19(RE). The current allocation is Rs 1,381 Cr more than the 2018-19(RE). 

Share of S&ME Department in the total state budget has declined from 12.50 per cent in 2018-19 RE to 12.36 per cent in 2019-20(RE). Similarly as the percentage of GSDP S&ME Department budget has decreased from 3.09% in 2018-19(RE) to 3.03% for 2019-20(BE). 

BUDGET FOR AGRICULTURE 

Allocation for the Farm sector, which includes Water resource, Agriculture & Farmers empowerment, Fisheries & Animal Resource and Co-operation department, is Rs 19561.2 Cr. for FY 2019-20(BE) which is a 21.96% increase from the 2018-19 (RE) budget. During 2018-19(RE) it was Rs. 16038.4 Cr.

Share of Agriculture (Farm sector) budget to total State Budget in 2019-20 is 14.74% which was 13.35% during 2018-19(RE). Similarly as % of GSDP agriculture budget is 3.62 per cent.

Due to the introduction of Krushak Assistance for Livelihood and Income Augmentation (KALIA) with the allocation of Rs 4461 Cr. the agriculture and Farmers Empowerment department budget has increased from Rs 4569.96 Cr. in 2018-19(RE) to Rs. 7552.27 Cr. in 2019-20(BE).

 

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