 "Odisha targets 15% revenue growth in 2015-16")
“In the Budget for 2015-16, the state would have additional expenditure commitments and higher Plan outlays. We would project a growth of at least 15 per cent in revenue collection over 2014-15. We hope that the economy will look up in the next fiscal and we will take steps to augment revenue”, said an official at finance department.
The total collection of tax and non-tax revenue was budgeted at Rs 27886.65 crore in 2014-15.
More From This Section
The state posted a mere 2.76 per cent increase in tax and non-tax revenues in the April-October period of this fiscal.Total revenue rose from Rs 12,694.75 crore to Rs 13,045.27 crore. Non-tax revenue, where mining is the single largest contributor, plummeted 16.77 per cent to Rs 3,582.11 crore by the end of October this year compared to Rs 4,303.77 crore posted in the year-ago period.The state government is implementing several schemes for the benefit of the common man like Biju KBK (Kalahandi-Koraput-Bolangir) Yojana, Gopabandhu Grameen Yojana, Biju Gram Jyoti Yojana, Biju Sahranchal Bidyutikaran Yojana and Madhubabu Pension Yojana to name a few.
Since all these sector specific schemes require large financial resources, the finance department has stressed on achieving revenue balance and curtailing unproductive revenue expenditure during 2015-16.
While preparing revenue estimates for 2015-16 Budget, the focus will be on strengthening the revenue machinery to step up revenue collection, implementation of the recommendations of the expert committee on revenue enhancement measures, revision of user fees wherever rates have not been revised for more than three years and collection of arrear revenue.
The priority areas identified for 2015-16 Budget are increase in capital outlay with emphasis on ongoing investment projects, adequate provision of funds for externally aided projects (EAPs) and flagship programmes and utilization of Central assistance for education, health and other social sector schemes.