Odisha Revenues up by 19%

The revenue generation for Odisha until December 2018, witnessed a significant jump of 19% in contrast to the last fiscal year, with the growth being driven primarily by better utilization of budgetary funds, coupled with heavy revenue generation from a number of core sectors.

The total revenue collected in the last fiscal year (2017-18) stood at Rs 25,023 crores, while that of the present year decked itself at Rs 29,665 crores for collections in the same period. While income from non-tax sources grew by 60% with a total of 8,556 crores, income from own-tax sources experienced a surge by 7 per cent, levelling itself at Rs 21,109 crores.

Sectors Contributing to Growth of Odisha Revenues
Sectors Contributing to Growth of Odisha Revenues

The aggregate jump of 19% was principally propelled by growth in mining royalty, which witnessed an increase of 70%, from Rs 4,217 crores in the last financial year to Rs 7,185 crores in the present year. Other sources with that bagged high revenue include industrial water (up by 14%), and those from duties and electricity (73% increase as compared to earlier fiscal charts).

According to Odisha’s Finance Secretary, Ashok Kumar Meena, the budget utilisation in multifaceted schemes being executed by the government recorded a 26% growth by the end of December 2018, with the actual expenditure pegged at Rs 39,820 crores.

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