Odisha’s debt burden to cross Rs 1.03 lakh crore by March 2020

Bhubaneswar: The State government’s debt burden is likely to cross Rs 1.03 lakh crore by March in 2020 which will be 19.2% of the Gross State Domestic Product (GSDP) this year.

Finance Department Principal Secretary Ashok Meena during a press conference said that the State’s debt stock will be Rs 87,650 crore by March 31, 2019, which is 18% of the GSDP. He further assured that the Odisha’s financial condition is on the right track.

As per reports, the State’s loan burden till December last year was at Rs 79,789 crore.

Finance minister Sashi Bhusan Behera yesterday presented the Vote-on-account of Rs 56,921 crore for four months in the Odisha Assembly whereas the budgetary estimates for the full year of 2019-20 was Rs 1.32 lakh crore.

The revenue receipt of the 2019-20 fiscal has been estimated at Rs 1,10,710 crore and the revenue expenditure at Rs 1.02,227 crore. A revenue surplus of Rs 8,433 crore is anticipated at the end of the next fiscal which would be nearly 1.6 % of the GSDP. The estimated fiscal deficit of Rs 16,193 crore would amount to 3 % of the GSDP.

A total of Rs 4,461 crore has been allocated for the recently launched KALIA scheme, whereas budgetary estimate of Rs 2,935 crore has been made for Rural Water Supply – BASUDHA Scheme and Rs 2120 crore for Madhubabu Pension Yojana.