Odisha Targets Fiscal Growth with Strategic Expenditure Plan

Odisha Chief Minister Mohan Charan Majhi aims to boost budget spending to 85% for the 2024-25 fiscal year, surpassing the previous year’s 81%. Despite electoral disruptions, Majhi emphasizes strategic expenditure across sectors like agriculture and health to ensure capital allocation fosters growth, maintaining Odisha’s economic strength.

Odisha Chief Minister Mohan Charan Majhi is setting ambitious fiscal targets, aiming to raise budget spending to 85% for the 2024-25 fiscal year, an improvement on the 81% achieved in 2023-24, according to an official report. The Chief Minister, who also manages the Finance portfolio, set these goals during a departmental expenditure review this Thursday. Despite challenges posed by elections, governmental transition, and the budget presentation in September, Majhi expressed satisfaction with the current spending progress.

He urged ministers to promptly approve expenditure proposals and clear overdue payments associated with welfare schemes to hit these targets. Highlighting Odisha's fiscal strength, with a 6.1% capital expenditure allocation of its GSDP—the highest in the nation—Majhi underscored the importance of capital and program expenditures for sustainable growth.

According to the statement, departments such as Agriculture, Fisheries and Animal Resources, Health, and Water Resources showed commendable expenditure performance. Achievements were also noted in the Works, Social Security & Empowerment of Persons with Disabilities, Food Supplies and Consumer Welfare, and Cooperatives departments, illustrating a broad commitment to economic vigor across sectors.

(With inputs from agencies.)