Odisha CM Naveen Patnaik’s Mix Reaction To Union #Budget2020

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Bhubaneswar: Odisha CM Naveen Patnaik welcomes Kisan Rail, Krishi UDAN, tax cuts on co-op societies, increase in deposit insurance cover to Rs 5 lakh, but shows displeasure citing no hike in grants for most central schemes, exclusion of State from iconic tourism site list.

CM Naveen Patnaik’s reaction on Budget2020

Welcome the following initiatives
• Krishi Rail and Krishi Udan for a seamless national cold supply chain.
• PM — KUSUM to cover 20 lakh farmers for solar pumps.
• Removal of dividend distribution tax and introduction of concessional component tax.
• Odisha had requested for extension of Concessional Tax rates to Cooperatives in line with Corporate Tax cuts. We welcome the announcement of Concessional Tax rates for cooperatives.
• Increase of deposit insurance coverage from Rs.1 lakh to Rs.5 lakh.

• Announcement for New Education Policy and FDI in the education sector.

Concerns
• Almost all allocations under the Centrally Sponsored Schemes have been stagnant.
• The divisible pool of Central Taxes has shrunk by almost 59,000 cr. This will reduce Odisha’s share by about 3000cr.
• None of archaeological sites of Odisha have been included in the iconic sites to be developed. Also Odisha deserves a National Tribal Museum.
• Drinking water is a national priority. Allocation of 11,500 cr nationally against an approved plan of 3.6 lakh crore is too little. Infact Odisha spends about 3600 cr. in Drinking water.
• Sensex is an indicator of investor confidence. The drop of almost 1000 points today shows that there is a huge scope to take a number of measures.
• Investor confidence is important for fresh investments to come in, to spur growth which is the biggest challenge now. This will have a huge impact on job creation and livelihood options for our youth.

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