Odisha to seek Rs 12.5 lakh crore from 16th Finance commission

The 15th Finance Commission (FC) headed by NK Singh had recommended a transfer of Rs 2.22 lakh crore to Odisha for five years from 2021 to 2026, against a demand of Rs 8.24 lakh crore.
Chief Minister Mohan Charan Majhi
Chief Minister Mohan Charan Majhi(File Photo)
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BHUBANESWAR : Ahead of the 16th Finance Commission’s scheduled visit to Odisha next month, the state government on Wednesday decided to submit a demand of Rs 12,56,148 crore for the next five years.

The memorandum was approved at the meeting of the cabinet presided over by Chief Minister Mohan Charan Majhi. Announcing the decision, the chief minister said the Commission headed by Arvind Panagariya will visit the state from February 4 to 7.

The 15th Finance Commission (FC) headed by NK Singh had recommended a transfer of Rs 2.22 lakh crore to Odisha for five years from 2021 to 2026, against a demand of Rs 8.24 lakh crore.

The cabinet also approved the Law department’s proposal for abolition of the age stipulation for selection of chairperson and other full-time non-official members prescribed in the resolution issued by the state government in 2016.

The chief minister said the prescribed age limit has been abolished to avoid the difficulty faced while selecting eminent personalities with adequate knowledge in the field of law, administration and such technical matters, to serve the best interest for which the Commission has been constituted.

The resolution had prescribed the age limit for chairperson, other full-time non-official members and part-time members at 70 years and tenure not exceeding three years from the date of assuming office, whichever was earlier.

The cabinet approved the post facto sanction of government guarantee of Rs 3,108.21 crore on swapping basis for Gridco for term loans availed from banks and financial institutions. The chief minister said this will reduce the interest load on Gridco and minimise the burden on end consumers.

Besides, the cabinet approved the convening of the budget session from February 13 to April 5 with a recess of one week from February 22 to February 28.

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