BHUBANESWAR: The Council of Ministers on Friday approved the budget for 2022-23 to be placed in the Assembly on July 2. The meeting of the first Council of Ministers after the ministerial revamp deliberated on the full-fledged budget which has been reworked keeping in mind the changes in resource generation scenario during the last four months.
Official sources said that the focus of the budget will be on higher investment in infrastructure, employment generation, industries and social sectors. The meeting presided over by Chief Minister Naveen Patnaik had a single agenda of budget for 2022-23.
Finance department officials maintained that a growth rate of 8 to 8.5 percent will be projected in the full-fledged budget. There will be changes in the budget to be presented by the government from the one it had placed on March 30.
Out of the budget of Rs 2 lakh crore, the State government had presented a vote on account of Rs 1,06,498 crore for the first four months of the financial year. The primary focus will be on employment generation, upgradation of healthcare facilities, sources said and added that capital spending will also increase.
The budget will be more than the Rs 2 lakh crore projected by the government in March. The programme expenditure will also increase. Priority will be on increasing the State’s own tax and non-tax revenue besides hike in the social sector spending.
In the 2021-22 budget, social sector spending was 37 per cent of the total expenditure. Besides, steps will be taken to reduce the State’s dependence on debts.
Focus Areas
Employment generation
Upgradation of healthcare facilities
Capital Spending
Tax, non-tax revenue