BHUBANESWAR: Claiming that the supplementary budget will meet the expectations and needs of the people and carry out developmental activities in the State, Finance Minister Sashibhusan Behera on Tuesday said exuded confidence of exceeding the revenue income target by this fiscal end.
Dispelling opposition apprehension that the State will fall short of its target for revenue earning, Behera said revenue income of Odisha has registered a significant growth by October-end against the corresponding period last fiscal.
“In April-October period of the current financial year, the State’s own revenue collection has increased by about 30 per cent against the same period last year,” the Finance Minister said while responding to a debate on Odishas Appropriation (No.2) Bill, 2017.
Attributing the growth in its own revenue collection to payment of VAT (Value Added Tax) by Indian Oil Corporation Ltd (IOCL)’s oil refinery at Paradip as per the revised agreement and increase in the mining revenue, Behera said the Government will mobilise an additional revenue of about `3,300 crore by the end of 2017-18.
Seeking the approval of House for a supplementary expenditure of `9,828.56 crore, Behera said `1,791.65 crore has been proposed for administrative expenditure out of which `1,400 crore will be provided as fiscal incentives to IOCL in the form of interest-free loan for 2016-17 and 2017-18 at `700 crore per annum.
With some members expressing concern over the increasing loan burden of the State, the Finance Minister said Odisha’s debt burden is around 16 per cent of the Gross State Domestic Product (GSDP) which is well below the permissible limit of 25 per cent.
The State Government has made adequate provision in the supplementary budget to take care of the need of all welfare programmes and infrastructure development in rural areas.
Initiating the debate, Leader of Opposition Narasingh Mishra lambasted the State Government for failing to keep its poll promises. While health and educations sectors are in a shambles for acute shortage of doctors and teachers respectively, the ruling BJD’s promise to create irrigation potential for at least 35 per cent of the cultivable area in each block has remained unfulfilled even after 17 years.
Criticising the Government for posting teachers on contract and part-time basis, he demanded regular appointment of teachers in all vacant posts. The supplementary budget was passed in voice vote amidst walk out by BJP members.