Odisha debt burden to cross Rs 1 lakh-crore mark by 2020
As per reports, the state's loan burden till December last year was at Rs 79,789 crore.
BHUBANESWAR: Odisha government’s debt burden is likely to cross Rs 1.03 lakh crore by March in 2020 which will be 19.2 per cent of the Gross State Domestic Product this year.
According to state finance secretary Ashok Meena, the state’s debt stock will be Rs 87,650 crore by March 31, 2019, which is 18 per cent of the GSDP.
Mr Meena, however, feels the Odisha’s financial condition is on the right track.
As per reports, the state’s loan burden till December last year was at Rs 79,789 crore.
Finance minister Sashi Bhusan Behera had on presented the Vote-on-account of Rs 56,921 crore for four months in the Odisha Assembly whereas the budgetary estimates for the full year of 2019-20 was Rs 1.32 lakh crore.
The revenue receipt of the 2019-20 fiscal has been estimated at Rs 1,10,710 crore and the revenue expenditure at Rs 1.02,227 crore.
A revenue surplus of '8,433 crore is anticipated at the end of the next fiscal which would be nearly 1.6 per cent of the Gross State Domestic Product.
The estimated fiscal deficit of Rs 16,193 crore would amount to 3 per cent of the GSDP.
A total of '4,461 crore has been allocated for the recently launched KALIA scheme, whereas budgetary estimate of '2,935 crore has been made for Rural Water Supply – BASUDHA Scheme and '2,120 crore for Madhubabu Pension Yojana.