Odisha News Insight

Odisha gets 1st Installment of Rs 1,743.46 cr for 2015-16

Indian RupeeThe Odisha Government has received the first installment of central funds for 2015-16, which stands at Rs 1,743.46 crore. The funds are being allocated on the basis of recommendations of the 14th Finance Commission.

While all states got Rs 37,420 crore in the first installment, Odisha’s share was 4.66% of the total allocation, which came to Rs 1,743.46 crore. Prime Minister Narendra Modi, during his recent visit to Rourkela, had said that Odisha will get Rs 25,000 crore from the Centre towards its share from Central taxes.

Previously, Odisha used to get approximately Rs 18,000 crore per annum from the centre. However, the 14th Finance Commission has acknowledged the state’s concerns and allocate more funds to deal with them.

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