Odisha finance panel pegs fund requirement for local bodies at Rs 50,282 cr

The Fifth State Finance Commission in Odisha has projected the fund requirement for local bodies in the state at Rs 50,282.5 crore during 2020-25.

Of the envisaged amount, Rs 29,510.86 crore is expected to flow from the state's internal resources. To overcome the fund gap, the finance panel has recommended the 15th Finance Commission to augment the state's Consolidated Fund by Rs 29,510.86 crore to supplement the resources of the local bodies.

The Commission has considered it appropriate to limit the total transfer of funds within 10 per cent of the state's own net tax revenue projected for the period