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The Odisha government clocked a Plan expenditure of Rs 15,027 crore for 2012-13, marginally falling short of the budget estimate (BE) of Rs 15,200 crore for the fiscal though it exceeded revised estimate (RE) of Rs 15,000 crore.
Capital expenditure stood at Rs 5,622 crore, representing only 2.2 per cent of the gross state domestic product (GSDP) and falling short of the RE figure of Rs 5,740 crore.
The state's own tax revenue collection at Rs 15,034.20 crore also lagged BE by 3.83 per cent. Non-tax revenue, however, exceeded BE of Rs 5,200 crore by 55.34 per cent to reach Rs 8,078.03 crore, mainly on the back of robust collection in mining revenue at Rs 5,352.94 crore.
The state achieved a substantial fall in net debt stock by Rs 610 crore in 2012-13. Net debt of the state by the end of 2012-13 stood at Rs 37,980 crore, indicating a fall of 1.8 per cent. The debt-GSDP ratio is 14.68 per cent of GSDP at the end of 2012-13 which is well within the norm of 29 per cent stipulated by Fiscal Responsibility and Budget Management (FRBM) Act.
At the close of 2012-13, there was a tiny fiscal surplus of Rs 3.61 crore.
