Odisha records 4 per cent revenue growth by November

Similarly, the total budget utilisation by end of November, 2020 reached around Rs 60,000 crore in infrastructure, social and agriculture and allied sectors.

Published: 31st December 2020 08:40 AM  |   Last Updated: 31st December 2020 08:40 AM   |  A+A-

Company, growth, economy, economic growth

For representational purposes. (Illustration | Amit Bandre)

By Express News Service

BHUBANESWAR: Odisha has maintained upward trend in revenue generation by registering a growth of four per cent (pc) by November-end over the corresponding period last year. Claiming that this was possible for the deft financial management despite Covid-19 crisis hitting all sectors of the economy, Principal Secretary of Finance Ashok Meena said revenue generation from both own tax and non-tax sources grew by around four pc.

The total revenue generation from both the sources by end of November, 2019 was around Rs 28,402 crore which increased to Rs 29,411.29 crore during the same period this year. The non-tax revenue during this period witnessed a growth of 23.29 pc in comparison to the last year. The total revenue generated from non-tax sources was around Rs 10,462 crore against Rs 8,485 crore till November, 2019.

Similarly, the total budget utilisation by end of November, 2020 reached around Rs 60,000 crore in infrastructure, social and agriculture and allied sectors. The fiscal performance of the State was reviewed at all secretaries meeting held under the chairmanship of Chief Secretary Asit Tripathy on the penultimate day of his career. He directed the departments to focus on faster implementation of the projects by utilising the budgeted money.Development Commissioner and Chief Secretary designate Suresh Chandra Mohapatra asked the departments to take regular review and monitoring of the OMBADC and DMF projects. Projects worth around Rs 20,000 crore are being implemented in mineral bearing districts like Angul, Jajpur, Jharsuguda, Keonjhar, Koraput, Mayurbhanj, Rayagada, and Sundargarh.

Odisha allowed to borrow Rs 1,429 cr more
Bhubaneswar: With the Centre permitting Odisha to borrow an additional Rs 1,429 crore after the State successfully undertook ease of doing business reforms, the State is now allowed to go for market borrowing of around Rs 23,500 crore which is over four per cent of the Gross State Domestic Product (GSDP). The Finance Ministry on Wednesday said Odisha government has been granted to raise Open Market Borrowing on the basis of 0.25 pc of GSDP out of additional borrowing of two pc of GSDP for implementation of ease of doing business reforms. Odisha is among seven states including Andhra Pradesh, Karnataka, Madhya Pradesh, Rajasthan, Tamil Nadu and Telangana, which have undertaken the reforms facilitating ease of doing business to be eligible for additional borrowing. In October, the State was allowed to borrow around Rs 2,858 crore over and above its permissible limit.  


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