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    FISCAL TRENDS OF THE STATE UP BY END OF FEBRUARY.

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    Date: Mar 14, 2018    Views: 161

    FISCAL TRENDS  OF THE STATE UP BY END OF FEBRUARY.

    Revenue Generation from Mining grows by 39%

    Total Expenditure grows by 11%

    Total Revenue generation grows by 24%

    Chief Secretary directed to expedite implementation of the projects under extra budgetary sources as well  

    and make the expenditure outcome oriented.  

    Bhubaneswar, 14th Feb : Fiscal performances of the State by end of February of the Current FY show signs of positive upward trend with the concurrent increase in both its major indicators like utilization of the budget allocations and revenue generation. This was known from the review taken by Chief Secretary Sri Aditya Prasad Padhi  in the all Secretaries meeting held in secretariat conference hall today. Chief Secretary Sri Padhi directed all departments expedite the implementation of the projects taken up under non-budgetary sources like DMF along with the budgeted projects. The departments were asked to ensure 100% initialization of the budgeted funds and make the expenditure outcome oriented.  Development Commissioner Sri R. Balakrishnan advised to simplify the norms regarding the sanction and implementation of the projects of under ‘Connect the Unconnected’ programme of State Government. 

    Presenting the fiscal updates, Principal Secretary Finance Sri Tuhin Kanta Pandey said, “Total programme expenditure up to February 2018 of current financial year has increased to Rs 41236 cr thereby recording a growth of around 11% in comparison to the same period of the FY 2016-17. The total programme utilization up to February, 2017 was around Rs. 37143 cr. The spending on social sector has grown by more than 20% and with total expenditure of Rs. 18621 cr.  and the spending on infrastructure has grown by 2% and with total utilization of around Rs.10,148 cr. Similarly, utilization under agriculture and allied sector has grown up to Rs.9257 cr.

    Keeping tune with the expenditure, the revenue generation from own-tax sources has increased around 29% over the last year till end of February.  The total collection from own tax sources up to February 2018 has reached around Rs 24568 cr against the total collection of Rs.19099 cr during same period of 2017.  Similarly,  the revenue generation from non-tax sources has recorded an increase of around 9% with total collection of Rs.6683 cr against the last years’ collection of around 6157 cr. The total revenue collection from all sources up to February 2018 has grown around 24% with a grand total collection of Rs. 31,251 Cr.  “This growth excludes the GST compensation amount of Rs. 1326 cr”, said the Principal Secretary Finance Sri Pandey.

    Beating the slowdown in world market, the revenue generation from mining sector up to February, 2018 has grown around 39% over the last year. Principal Secretary Steel and Mines Sri Raj Kumar Sharma appraised that total collection from mining royalty by end of February was around Rs.5246 cr against that of Rs. 3783 cr during the same period of last year. The total dispatch of iron ore from the mining sites up to 1st week of March was around 120.63 million ton against the total dispatch of around 112 million ton during 2017. Similarly, the total production of iron ore up to March 1st week of current year has been around 99 million ton against the total production of 97 million ton during the same period of last year.  This has been possible because of facilitating policies of the State Govt and constant follow up at ground level.

     Development Commissioner Sri R. Balakrishnan,  Agricultural Production Commissioner Sri Gagan Kumar Dhal, Additional Chief Secretary Higher Education Sri G.V.V. Sharma, Additional Chief Secretary Micro Small & Medium Enterprises Dr Laxmi Narayan Gupta   along with Principal Secretaries , Secretaries and Special Secretaries of all departments participated in discussions.

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