Odisha Cabinet approved draft full-fledged Budget estimate for FY15

Bhubaneswar, 13 June-2014: Odisha Cabinet on Thursday approved draft full-fledged Budget estimate for the 2014-15 financial year. The draft full-fledged Budget estimate was approved at a meeting by the Council of Ministers held here on Thursday under the chairmanship of Chief Minister Naveen Patnaik.

Odisha Cabinet approved draft full-fledged Budget estimate for FY15

Odisha Cabinet approved draft full-fledged Budget estimate for FY15

The complete Budget for the 2014-15 financial year has reportedly been increased to around Rs80,000 crore which is around Rs4,000 crore higher than the estimated Budget provision placed in the State Assembly in form of Vote-on-Account for four months on February 7 last.

The Budget was on the higher side as the Finance Department had to reflect the poll promises in form of some schemes to be implemented in a phased manner. Finance Minister Pradip Kumar Amat would present his first-ever Budget in the current Session of the Assembly on June 17.

Earlier on February 7 last, the State Government had pegged the complete Budget for the 2014-15 fiscal at Rs76,000 crore including Rs34,829 crore towards Vote-on-Account to defray the expenditure for existing establishment and ongoing schemes.According to sources, the new revised Budget estimate would give priority on agriculture and allied sectors like cooperation, fisheries and animal resources development, road communication, drinking water, electrification, irrigation and education.

For the second consecutive year, the State Government would present a separate Budget for agriculture and allied sectors. Sources said that for the first time, the State Budget would be inclusive of the Central assistance leading to its higher size. Since the new BJP led NDA Government at the Center had decided to discontinue the outside Budget assistance against various schemes, the entire funds would come to the State as Central assistance.

Cabinet also approved the draft legislation for opening of an Open University in the State.

The bill would be introduced in the ongoing Budget Session for passing, sources said. The Government also decided to form the Disaster Recovery Fund for Slum Dwellers. Besides, the Cabinet also approved the proposal of the Urban Development Department to hand over seven High Schools, four ME Schools and three Lower Secondary Schools being managed by the department to the School and Mass Education Department.

(Input Source: orissadiary.com)

Posted by on June 14, 2014. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.