Odisha Assembly: Finance Minister Explains State’s Debt Burden Status

Bhubaneswar: Replying to a major question posed by BJP MLA Shankar Oram today in the Assembly during the ongoing Budget Session, Odisha Finance Minister Niranjan Pujari apprised the House on the status of State’s debt burden by informing that it amounts to a tune of Rs 79,866.08 crore in the 2018-19 financial year.  

The Finance Minister told the members, “As per the preliminary data of Comptroller & Auditor General (CAG), the State’s loan burden in 2018-19 financial year is Rs 79,866.08 crore. While the State Government has aimed at borrowing loan to a tune of Rs 23,584 crore in the present financial year (2019-20), it has aimed at paying off loan to a tune of Rs 4,707 crore. Hence, it has been estimated that loan amounting to Rs 18,877 crore will be borrowed in the current fiscal (2019-20).”

He further informed, “Budget for the 2019-20 has been pegged at Rs 1,39,000 crore. For the 2019-20 fiscal, income to the coffers has been estimated from revenue (Rs 1,15,266 crore) collection while from borrowings and other sources Rs 23,734 crore has been expected to be earned.”

“So far the revenue collection is concerned, State’s share from the Central Tax sources is Rs 39,207 crore, State’s own tax collection pegged at Rs 33,000 crore while the State’s non-tax collection is expected to be Rs 12,500 crore and Central grant amounts to Rs 30,559 crore,” the Odisha Finance Minister stated.