Odisha registered a growth of 9% in revenue generation by Oct-end

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Bhubaneswar: Odisha has registered a growth of 9% in revenue generation till end of this October compared to the corresponding period of last FY.

In the all Secretaries meeting, Chief Secretary Asit Tripathy instructed Depts to utilise at least 60% of the budget by end of this Dec.

This was known from an All Secretaries Meeting held under the chairmanship of Chief Secretary Asit Tripathy here on Friday wherein Finance Secretary Ashok Kumar Meena outlined the financial updates of the State for discussion.

Reviewing fiscal performances of various departments up to October 2019, Tripathy directed the departments to utilise at least 60% of the budget by end of December. Meena said there had been remarkable progress in avoiding parking of funds by the departments as a result of which the actual expenditure is getting reflected on the common treasury portal.

The review showed the revenue generation from non-tax sources grew around 12.24% by October-end in comparison to the corresponding period of the last year with a total collection of around Rs 7,399 crore. The revenue generation from mining royalty and water cess increased around 11% and 46%, respectively. The total collection from mining royalty was around Rs 6,054.93 crore against last years’ collection of Rs 5,436.54 crore by October end. Similarly, the revenue generation from own tax sources also increased by 7.56% with a total collection of around Rs 17,510 crore against last year’s collection of Rs 16, 279 crore.

In real terms, the total revenue touched Rs 24,909 crore by October-end. Keeping in tune with the revenue generation, the budget utilisation by end of October grew around 16 per cent over last fiscal year. The total expenditure by October end of current fiscal was around Rs 60,848.21 crore against the last year’s expenditure of Rs 52, 525.40 crore.

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