Pradip Kumar Amat, Finance Minister of Odisha today presented Rs 84487.77 crore budget for 2015-16 that focuses on infrastructure, education and agriculture.
He also presented the budget for agriculture and allied sectors with a plan outlay of Rs 10,903.62 crore.
While the total revenue expenditure is estimated at Rs 65,838.99 crore during 2015-16 fiscal, the fiscal deficit is projected at Rs 10,400 crore which is 2.99 per cent of GSDP, the minister added.
The fiscal deficit would be financed through net borrowing of Rs 9,893.68 crore and net surplus public account of Rs 506.61 crore,” Amat said. He said revenue surplus has been estimated at Rs 5,101.51 crore in 2015-16 which is 1.47 per cent of GSDP.
Due to substantial shortfall in central transfer as well as own revenue and falling cash balances, it would not be possible to protect the capital outlay without resorting to market borrowing, the finance minister said.
The budget has the provision for Rs 100 crore corpus fund for fertilizers, Rs 520 crore for deep bore well and irrigation projects, Rs 160 crore for Jal Nidhi Yojana, Rs 50 crore for State Potato Mission and preservation of potato in state, Rs 90 crore for Biju Krushak Kalyan Yojana and Rs 128.3 crore for Udyan Krushi (Horticulture) Yojana.
The budget speech of the Finance minister was disrupted by opposition Congress members who demanded introduction of Odia translation of different Bills being introduced in the House.
Referring to the allocations for the ensuing Nabakalebara festival in Puri scheduled in June this year, he said the budget has earmarked Rs 20 crore has for Nabakalebara and Kotha Bhoga. Apart from this, special allocation has been made to address concerns such as the construction of chariots, programmes and welfare of the servitors of Shri Jagannath temple.
“Besides, the budget has also allocated Rs 64 crore to ensure uninterrupted power supply to Puri town while a provision of Rs 40 lakh has been made for free travel of the devotees between Malatipatpur and Puri during Nabakalebara festival,” he added.
The minister also informed that the budget has allocated Rs 5 crore towards repair and maintenance of other Jagannath temples in the state while Rs 3 crore has been earmarked for setting up of Tourism Police in the state for the safety and security of the tourists.
Referring to the law and order and the Maoist situation in the state, Amat said the annual budget has earmarked Rs 120 crore for the modernisation of the Odisha Police.