- Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
- GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
- Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
- Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
- Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Odisha budget for FY20 earmarks Rs 5,611 cr for KALIA scheme, focuses on health care, education and skill development
According to Odisha FM, Rs 19,492 crore has been allocated for the education and skill sectors, while Rs 2,550 crore earmarked for the Samagra Sikhya Abhiyan and Rs 844 core for the mid-day meal scheme.
Odisha's Finance Minister Niranjan Pujari presented the annual budget of Rs 1.39 lakh crore for the 2019-20 fiscal, projecting economic growth in the range of 8-8.5 per cent, in Bhubaneswar on Friday, with an outlay of about 15.8 per cent more than that of 2018-19. Focusing on boosting agriculture productivity, expanding irrigation, improving health care, education and skill development and drinking water, the other key highlights of the state budget are:
1. The budget allocated Rs 23,760 crore for development of SCs and STs for identified schemes, followed by Rs 20,714 crore for agriculture and allied sectors, said Finance Minister Niranjan Pujari.
2. Pujari said an outlay of Rs 5,611 crore is made for the Krushak Assistance for Livelihood and Income Augmentation (KALIA) to 75 lakh farmers, while Rs 800 crore has been provided towards interest subvention on crop loans to cooperatives, as well as commercial banks.
3. According to Odisha FM, Rs 19,492 crore has been allocated for the education and skill sectors, while Rs 2,550 crore earmarked for the Samagra Sikhya Abhiyan and Rs 844 core for the mid-day meal scheme.
4. He further said that a sum of Rs 1,203 crore has been allocated for the Biju Swasthya Kalyan Yojana (BSKY) for 2019-20, Rs 1,365 crore for the National Health Mission and Rs 578 crore for the Mukhya Mantri Swasthya Seva Mission.
5. A higher outlay of Rs 2,740 crore has been proposed for rural water supply, and Rs 385 crore on urban water supply, besides allocating Rs 2,500 crore for the rural component and Rs 300 crore for the urban component of the Swachh Bharat Mission, the minister said.
6. Noting that Odisha's economy is expected to grow at 8.35 per cent in 2018-19 -- surpassing the all India growth rate of 7.2 per cent -- the Odish FM said the outlay is proposed to be financed by revenue receipts of Rs 1,15,266 crore and Rs 23,734 crore through borrowings and other receipts.
7. The total administrative expenditure is estimated at Rs 57,310 crore, which includes Rs 25,500 crore for salaries, Rs 13,300 crore for pension, Rs 6,500 crore for interest payment and Rs 4,840 crore for maintenance of capital assets.
8. According to Pujari, total revenue receipts for 2019-20 include the state's tax revenue of Rs 33,000 crore, non-tax revenue of Rs 12,500 crore, Odisha's share in central taxes of Rs 39,207 crore and Rs 30,559 crore as grants from the Centre.
9. Chief Minister Naveen Patnaik has hailed the budget stating that the aspirations of the people of Odisha have been reflected in it. Patnaik said major manifesto promises -- expansion of KALIA scheme and inclusion of all eligible farmers, landless labourers and sharecroppers, and health cover for women up to Rs 10 lakh -- have been fulfilled in the budget, adding "Overall it is a pro-farmer, pro-woman, pro-poor and growth oriented budget."
10. Under the housing segment, the budget also proposes Rs 4,820 crore for the convergence of the PMAY Gramin and Biju Pucca Ghar Yojana. For women and child development, Rs 3,457 crore has been allocated for various schemes and programmes. The state government proposed a budgetary allocation of Rs 1,028 crore for the Odisha Food Security Scheme.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.