Development News Edition
Give Feedback

OD-FISCAL


PTI 10 Aug 2018, 03:42 PM India

Odisha's fiscal performance shows upward trend

Bhubaneswar, Aug 10 (PTI) Odisha's fiscal performance

has shown upward trend in the first quarter of 2018-19 ending

in July, official sources said today.

Growth was registered both in the revenue generation

and utilisation of budgeted allocation, they said.

This came to fore in the secretaries meeting held

today under the Chairmanship of chief secretary A P Padhi

where finance secretary AK Meena outlined the financial

updates of the state for discussion.

Review of the fiscal performance showed that budget

utilisation on different plans, programs and schemes up to

July, 2018 has been Rs 1,7983 crore thereby showing the growth

of more than 10 per cent over corresponding period of last

fiscal year, the sources said.

The social sector spending by end of July of current

year has grown by 23 per cent (with actual spending of

Rs 9,544 crore) over the corresponding period of 2017-18.

Similarly, the expenditure under agriculture and

allied sector has reached Rs 3,516 crore and the expenditure

in infrastructure sector has touched Rs 2,840 crore. The

expenditure in agriculture and allied sector and

infrastructure sector has reached Rs 3,993 crore and Rs 3,245

crore respectively, official sources said.

Keeping pace with the expenditure, the total revenue

generation has also grown around 33 per cent by end of July,

2018, they said.

The total revenue generation by July end in last

fiscal year (2017-18) was around Rs 9,807 crore against which

current year collection up to same period has been Rs 13,015

crore.

The revenue from own tax sources during current fiscal

has grown by 27 per cent with total collection of Rs 9,536

crore and the revenue from non-tax sources have grown by 51

Percent with a total collection of Rs 3,479 crore.

The revenue generation from mining royalty and vehicle

taxes has shown highest increase of around 72 per cent and 42

per cent respectively, Meena said.

The total collection from mining royalty has been

around Rs 3,039 crore against last years collection of

Rs 1,769 crore up to July end.

Similarly, the revenue collection from vehicle tax has

grown up to Rs 571 crore against last years collection of

Rs 404 crore during the same period.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

add banner

LEAVE COMMENT