Budget projects revenue surplus of Rs 60.13 crore

The Orissa government today presented a revenue surplus Budget for 2011-12, envisaging a total outlay of Rs 44878.97 crore, with a focus on fiscal consolidation, improvement in quality of public expenditure and attracting private investment through PPP (Public Private Partnership) projects.

The Budget size has gone up by 12.48 per cent from Rs 39896.6 crore in 2010-11. The Budget for the next fiscal has projected a marginal revenue surplus of Rs 60.13 crore compared to the revenue deficit of Rs 1036.45 crore projected for 2010-11.

The Budget has announced an increase in rate of Value Added Tax (VAT) from 12.5 per cent to 13.5 per cent with effect from April 1, 2011 for cars, refrigerators and air conditioners.

The fiscal deficit for 2011-12 has been projected at Rs 8255.32 crore as against Rs 7308.26 crore in 2010-11.

Out of the total Budget size of Rs 44878.97 crore for 2011-12, the Non-Plan expenditure stands at Rs 29594.25 crore with the Plan expenditure being Rs 15284.69 crore.

The Plan expenditure includes State Plan of Rs 13000 crore, Central Plan of Rs 731.10 crore and Centrally Sponsored Plan of Rs 1553.62 crore.

The Budget has allocated Rs 1167.98 crore for agriculture & allied activities, Rs 3259.61 crore for water resources, Rs 198.14 crore for cooperation department, Rs 377.70 crore for fisheries & animal resources development, Rs 609.61 crore for forest & environment, Rs 1451.66 crore for health & family welfare, Rs 5315.44 crore for school & mass education, Rs 2181.74 crore for Panchayati Raj department, Rs 2517.51 crore for women & child development, Rs 1286.33 crore for SC & ST development, Rs 1230 crore for Planning & Coordination department and Rs 1026.32 crore for Food Supplies & Consumer Welfare department.

This Budget lays emphasis on fiscal consolidation, larger devolution of resources to the third tier of government and capital investment for building physical and social infrastructure which would catalyze economic growth and make it more inclusive.

More than 60 per cent of the State's Plan Outlay, grants for creation of capital assets and other revenue expenditure for capital formation, state finance minister Prafulla Chandra Ghadai said while laying the Budget for 2011-12.