Council of ministers okays 2011-12 budget

Bhubaneswar: The state council of ministers on Thursday approved the draft budget proposal for FY 2011-12 which will be tabled in the state Assembly on February 18.

With 28 per cent increment in revenue collection, the state budget for FY 2011-12 has been increased to a whopping Rs 46,000 crore.

The budget with special financial package for power and compensation for farmers hit by the untimely rain will be bigger than the previous years.

Laying extra emphasis on agriculture and farmers, the plan outlay is all set to be pegged at Rs 15,000 crore. While Rs 205 crore have been earmarked for farmers hit by the untimely rain, Rs 100 crore have been allocated for drought-hit farmers. And Rs 325 crore have been set aside for the power sector. With special provisions for the ongoing projects, funds have been allocated for Biju KBK Yojna, Biju Rural Electrification Programme and Gopabandhu Grameen Yojana.

However, finance minister Praful Ghadai said that along with compensation for farmers and special package for power sector, more funds have also been provided in the budget for the social sector.

“The size of the budget is bigger than the previous years. The government always has put emphasis on communication and infrastructure development, tribal population and irrigation facilities. Priority has been given on the flagship programmes of the government in this budget”, said Finance minister Prafulla Ghadai.

Claiming that 54 per cent of the 2010-11 budget was spent by end of December, Ghadai said he was hopeful that remaining amount would be utilised by end of this fiscal.

It may be noted that the total budget amount for the FY 2010-11 was 39,896 crore. The plan outlay amount was Rs 10,000 crore while the non-plan amount was Rs 26,000 crore.