Times One Odia

A Leading News Channel | Breaking News | Live News| Top News

Odisha’s Rs 28,200 Crore Supplementary Budget for FY 2023-24: Allocation and Key Highlights

1 min read

Odisha’s Finance Minister, Bikram Keshari Arukha, presented a Supplementary Budget of Rs 28,200 crore for the fiscal year 2023-24 during the Monsoon Session in the Odisha Assembly. This supplementary provision is allocated as follows:

  • Administrative Expenditure: Rs 2,864 crore
  • Programme Expenditure: Rs 20,100 crore
  • Disaster Response Funds: Rs 4,664 crore
  • Transfers from the State: Rs 572 crore

The need for this Supplementary Budget arose due to additional funding requirements for ongoing projects, changes in fund release mechanisms for Central Sector and Centrally Sponsored Schemes, and the recoupment of advances from the Odisha Contingency Account.

Financing for this budget involves adjustments, savings, tied-up resources, and additional revenue collection. Notable allocations in the budget include funding for various welfare and developmental initiatives, such as Ama Odisha Nabin Odisha, IT Connectivity to Gram Panchayats, Odisha Metro Rail Transport, and more.

The Administrative Expenditure includes provisions for elections, maintenance of buildings, medical colleges, and various commissions. Disaster risk mitigation receives significant funding, and transfers are made to Panchayati Raj Institutions as per SFC Awards.

The Programme Expenditure is distributed across several priority sectors, including farmers’ welfare, women’s empowerment, healthcare, education, rural and urban infrastructure, industries, and culture and tourism. The budget aims to maintain fiscal discipline while supporting economic growth and development.

Leave a Reply

Your email address will not be published. Required fields are marked *