Odisha Budget outgo at Rs 1.06 lakh cr, growth pegged at 8-8.5% in FY18

Budget projects higher borrowing of Rs 17,849 crore

Unfazed by the global macroeconomic headwinds and the internal punch delivered by demonetisation, Odisha has projected a GSDP (Gross State Domestic Product) growth in the range of 8-8.5 per cent for 2017-18. Advance estimates by the Economic Survey have pegged the state economy to grow at 7.94 per cent in 2016-17, higher than the national average of 7.1 per cent.

Total Budget outgo for FY18 is pegged at Rs 1.06 lakh crore, 13.7 per cent higher than Rs 94052.65 crore in last financial year. The expenditure is expected to be made up through revenue receipts estimated at Rs 88,932 crore, recovery