Fiscal Health Coveted Odisha as No 1 in India
Bhagabat Padhi
Odisha has been crowned under Niti Ayog parameter as top most state of India on Fiscal Health status.Such statistics taken covered with 18 States & other 10 Himalayan & North East States.
This could be successful due to 2023-24 financial bask with maintenance on guidelines subject to Revenue Accumulation & Expenditure of state.As per norms 1/3 rd of incurred expenditures beared compared to 2/3rd as holistic income from total Revenue of the State.Outlay enriched despite State Budget Allocation to maintain standard liquidity balance instead of burden on liabilities.
With indicators like Quality of Expenditure that evaluated on spending Capital with Investment vs Salaries, Pensions & Interest Payments.Secondly Revenue Mobilization was a part to generate own Tax & Non-Tax Revenue. Thirdly Fiscal Prudence Assessment envisaged better Fiscal Responsibility & Budget Management.Fourthly on Debt Index proximity examined the size & burden of outstanding Liabilities.As a great Achiever Odisha placed with below 3℅ on GSDP.Subjected to merit Odisha ranked 73.1 as top rank,where Goa on 54.7 & Jharkhand on 50.5 as second & third position.
Such incredible Achievements could be possible on quality maintenance of input Budget on Economic Growth,Social Outcomes & Macroeconomy stability. With discipline on expenditure & Sustainable Revenue Mobilization could lead Odisha as Renaissance on Fiscal upgraded status.A better team work flayed with Revenue Collection,Quality Restoration on Expenditure limits,Fiscal Standard Maintenance & Investment Parameter.
Bench mark with Fiscal Liquidity, encouragement on Reforms with Transparency & Discipline.Standard too maintained on Salaries & Revenue with afforded Budget.That indeed redeemed on Outlay to garner 38000 crores accumulated Budget,based on 2023-24 Financial Year status.Overall paradigm too maintained by eclipsing Centre allocated fund over burden.Instead Odisha too topped on placing 70000 crore tax before centre covered from Mineral Resources & other Resources.
Unlike Aspirational states like Tamilnadu, Kerala, Punjab & West Bengal;Odisha maintained its statusque on available liquidity Budget.
Certain Reforms taken during Naveen Patnaik Government to establish & empower grassroots livelihoods like Madhubabu Pension,Kalia Yojana Mission Shakti & other schemes.
For such best performance not to deviate like aspiration states where more salaries,subsidies & irrationally expenditure over Budget that flawed their roadmap to maintain consistency on Fiscal Allocation of Budget.Low Fiscal deficiency in Odisha accoladed as better out turn on longevity & sustainability. That too focussed on economic growth & reached at unreach.
Key factors eg;enhanced Revenue Mobilization & broadening GST Base are those indicators stabilized better reforms in Odisha.A caution on strength & vulnerability assessment rightly played, as Odisha could be coveted in global field both by Niti Ayog & UNO honoured for deemed commitment on Corona times & Natural Calamities like Titli & other hazardous times.
Now Odisha can go on maintain such status to be an examplry state for other states to follow such strategies.
Bhagabat Padhi [email protected]
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