Bhubaneswar: The annual budget for 2016-17 will be tabled by Finance minister Pradeep Kumar Amat in the Assembly today. Despite lower revenue generation, the state government will present a bigger budget which is likely to be in the region of Rs 95,000 crore.
On Friday, the Odisha Council of Ministers had approved the draft budget worth Rs 94,143 crores for the financial year 2016-17. The budget has made provision of Rs 48, 261.90 crores for non-plan expenditure, Rs 45,600 crores for plan expenditure, Rs 140 crores for central schemes and Rs 141 crores for centrally-sponsored schemes.
With reduction in assistance from the Centre, the State government has already indicated that it will will try and manage the budget in a manner that ensures adequate allocation to Central as well as State-sponsored schemes.
Sources have cited that the government may resort to provisions available under Fiscal Responsibility and Budget Management (FRBM) Act, which also includes market borrowings.