Bhubaneswar: Economic slowdown due to Covid-19 and a strong possibility of reduction in State’s share from Central taxes notwithstanding, Odisha Government’s budget for 2021-22 financial year is likely to cross the Rs 1.70 lakh crore mark.
“The budget is bound to increase every year due to inflation. Like the previous year, the focus is likely to stay on the farm sector in this year’s budget. Proposals have also been given to improve the irrigation facilities in the State. Besides, it has been suggested to give special emphasis on the mineral sector,” said former finance minister Panchanan Kanungo, who took part in the pre-budget preparation meeting virtually on Friday.
The State government has invited suggestions from different sections of society for preparation of the Budget 2021-22. The government has sought proposals from common people, civil society organisations, different advocacy groups and other stakeholders to participate in the Budget-making process till January 21.
“The State government is hopeful of registering seven per cent growth in 2021-22 though due to Covid-19 it is likely to contract by 1-2 percent in the fiscal year,” said a government official.
(Edited by Suryakant Jena)