Odisha News Insight

Odisha Budget 2015-16 approved by Cabinet

pradip amat budget odishaOdisha cabinet on Friday approved the draft Odisha Budget for the fiscal year 2015-16 to be presented in the state assembly on Feb 16. The cabinet meeting was chaired by Chief Minister Naveen Patnaik. In the meeting, the chief minister reviewed the financial allocation to various departments.

Finance Minister Pradip Amat presented the draft annual budget proposal of Rs 85,132 crore for the financial year 2015-16 in the cabinet meeting. The budget allocation for 2014-15 was of Rs 80,000 crore, which was 33 per cent higher than that of 2013-14. It is believed that the current financial year budget estimate would cross Rs 90,000 crore.

The minister in the meeting approved the draft annual budget plan outlay of Rs 44,506 crore and non-plan outlay of Rs 40,150 crore. Odisha is likely to get additional central assistance of Rs 6,000 crore as the share of states in Central revenue will be increased to 50 per cent from existing 42 per cent, as per the recommendations of 14th Finance Commission.

In the currently budget, state government is likely to increase allocation to infrastructure sector as promised pucca houses for all in the party manifesto. And, it would also consider special allocation in the budget for the upcoming Nabakalebara festival this July. In 2014-15 budget state government had allocated Rs 9,542 crore for agriculture sector. The state government is likely to give more priority to agriculture sector by increasing allocation this year.

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