Odisha income surplus primarily because of decline in spending: Audit report
2 min read
Express News Service
BHUBANESWAR: Odisha might need made a change from a revenue-deficit economic system to a revenue-surplus one, however the extra is majorly because of a considerable decline in income spending and capital expenditure. As per the newest State Finances Audit Report, income expenditure of the State has decreased by Rs 3,826 crore within the face of Rs 2,819 crore improve in receipts in 2020-21 as in comparison with 2019-20.
Expenditure beneath social providers decreased considerably by Rs 3,616 crore from Rs 43,517 crore in 2019-20 to Rs 39,901 crore in 2020-21. Even as Odisha fared favourably in its deal with growth expenditure, financial providers expenditure, and training expenditure, it lagged behind different states within the areas of healthcare expenditure and social providers expenditure.
The main lower in expenditure of Rs 2,394 crore throughout 2020-21 was beneath social safety and welfare because of much less spending in pension-social safety scheme, baby welfare and different programmes. Further, there was Rs 1,709 crore discount in water provide and sanitation expenditure.
Agriculture spending additionally noticed a drop of Rs 2,847 crore because of a lower in expenditure on farmers’ welfare scheme Krushak Assistance for Livelihood and Income Augmentation (KALIA) Yojana and Jalanidhi scheme. The audit additionally discovered that expenditure on aid on account of pure calamity dropped from Rs 4,290 crore in 2019-20 to Rs 2,653 crore in 2020-21.
The complete expenditure was Rs 1,14,857 crore in 2020-21 and Rs 1,20,673 crore in 2019-20 as in opposition to the funds estimate of Rs 1.5 lakh crore and Rs 1.39 lakh crore respectively. Revenue Expenditure of Rs 95,311 crore was 3.86 per cent decrease than Rs 99,137 crore in 2019-20. The lower over the earlier yr was primarily because of decrease outgo on agriculture and allied actions, social welfare and diet, water provide, sanitation, housing and concrete growth and welfare of SCs, STs, minorities and OBCs.
Similarly, capital expenditure of Rs 17,949 crore was 11.48 per cent decrease than Rs 20,277 crore in 2019-20. “The revenue surplus of Rs 9,076 crore in 2020-21 significantly increased by 273 per cent from the surplus of Rs 2,430 crore in 2019-20 due to low spending. There has been a decline in the capital expenditure from 2017-18 to 2020-21,” the report acknowledged.
Economists expressed concern over declining capital expenditure because it straight contributes to asset creation and is vital to the welfare of the inhabitants whereas the income expenditure helps within the upkeep of belongings and assembly the debt servicing obligations of the State.
