By Our Correspondent in Bhubaneswar, February 16, 2015 :

Odisha Finance Minister Pradeep Amat on Monday presented revenue surplus budget 2014-15 of Rs 84487.77 crore amid pandemonium and protest by the opposition Congress and BJP members in the House.

Amat also presented a separate agricultural budget with an outlay of Rs 10,903.62 crore for the next fiscal up by 14.27%.

However, the fiscal deficit i.e the difference between what a government earns and what it spends, will go up to Rs 6408.11 crore is within three per cent of the Gross State Domestic Product [GSDP] prescribed by the Odisha fiscal Responsibility and Budget Management [FRBM] target, he informed the House.

Faced with crunch in mobilisation of resources in the current fiscal, the revised estimate has come down from budget estimates of Rs 80139.58 crore to Rs 77557.06 crore.

State’s annual plan outlay has been pegged at Rs 44,150 crore including Rs 4000 crore for the public sector undertakings compared to the revised estimate of Rs 35666 crore in the current fiscal.

The Government’s total budgetary allocation with an outlay of Rs 84487.77 crore for 2015-16 FY comprises of estimated revenue receipt of Rs 70940.50 crore, recovery from loans and advances Rs 240.29 Cr besides, Rs 13306.99 crore by means of borrowing and other receipts.

The budgetary expenditure for the next fiscal includes plan expenditure to the tune of Rs 65838.99 crore and non-plan expenditure of Rs 43956.32 crore.

Budgetary allocation for the social sector spending has been pegged at Rs 29092.19 crore. It includes allocation for Health and Family Welfare department under both Plan and Non-plan category to the tune of Rs 3855.88 crore, School and Mass Education of Rs 9979.49 crroe, Higher Education of Rs 1989.11 crore, Panchayati Raj of Rs 7057.10 crore; ST and SC Development of Rs 2372.34 crore; Women and Child Development of Rs 4160.63 crore et al.

An estimated Rs 14232.58 crore has been earmarked for the key Infrastructure development which constitutes allocation of Rs 4145.12 crore for works, Rs 2925.29 crore for Housing and Urban Development, Rs 5974 crore  for rural development and Rs 1187.20 crore for Energy department.

A special allocation of Rs 135 crore in the budget has been made this time keeping in view the Puri Nabakalebar festival to be held later this year.

Speaking to the reporters after presenting the budget, finance minister said the budgetary outlay has increased by about 5.15% this year. The non-plan outlay has increased by about 7.97 per cent whereas plan outlay has increased by 7.97% where as the state plan has increased by 3.45% as compared to the previous year.

“The allocation for agriculture and allied sector in the budget has been substantially enhanced from Rs 9542.22 crore in 2014.15 to Rs 10903.61 crore in 2015-16. The step up in provision in the sector is 14.27 per cent,” the finance minister said.

Amat further added, “Due to declining in mining revenue, frequent cut it petrol and diesel prices resulting in loss of Value Added Tax and some other factors, there has been fall in revenue collection. However, with some mines going to open soon and the state contemplating some strong measures like tight monitoring of timely revenue collection and realization of pending arrears, things will improve soon.”