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Odisha will get Rs3,261.85 crore more under the State’s share in Central Taxes and Duties. Such an estimation has been made in the 2023-24 budget documents.
According to the recommendations of the 15th Finance Commission, Odisha is entitled to get 4.528 per cent of the Central Taxes and Duties.
As per the Receipt Budget, Odisha’s share of 4.528 per cent of the Central Tax and Duties will be Rs 46,251 crore for the year 2023-24. Out of it, while Odisha is to get Rs 14,803 crore as Corporation Tax, it will get Rs 14,401 crore, Rs 14,955 crore, Rs 1,467 crore, and Rs 614 crore under Income Tax, Central GST, Customs and Union Excise Duty, respectively.
For 2022-23, Odisha will receive Rs 42,989 crore as per the revised estimates.
Union Finance Minister Nirmala Sitharaman on Wednesday tabled the Union Budget for 2023-24 in the Lok Sabha. The budget allocation to the Indian Railways always assumes significance. In the budget, the Finance Minister announced highest-ever outlay of Rs 2.40 lakh crore for the Indian Railways. Such a huge outlay will help the Indian Railways roll out major projects, new Vande Bharat trains and the electrification of new railway lines.
(Reported by Kapilendra Pradhan, OTV)