Bhubaneswar: Even though Odisha Chief Minister Naveen Patnaik today welcome the Union Budget 2020 presented by Union Finance Minister Nirmala Sitharaman in Parliament today, he raised concerns over the fall of the State’s share by Rs 3,000 crore.
In a statement, the Chief Minister said due to the shrink in divisible pool of Central taxes by almost Rs 59,000 crore, Odisha will lose around Rs 3,000 crore.
The Chief Minister welcomes the following initiatives
• Krishi Rail and Krishi Udan for a seamless national cold supply chain
• PM-KUSUM to cover 20 lakh farmers for solar pumps
• Removal of dividend distribution tax and introduction of concessional component tax
• Odisha has requested for extension of Concessional Tax rates to cooperatives in line with Corporate Tax cuts. We welcome the announcement of Concessional Tax rates for cooperatives.
• Increase of deposit insurance coverage from Rs 1 lakh to Rs 5 lakh
• Announcement for New Education Policy and FDI in the education sector
At the same time, the Chief Minister raised his concerns about some of the other measures
• Almost all allocations under the Centrally sponsored schemes have been stagnant
• The divisible pool of Central taxes has shrunk by almost Rs 59,000 crore. This will reduce Odisha’s share by about Rs 3,000 crore.
• None of archaeological sites of Odisha have been included in the iconic sites to be developed. Also, Odisha deserves a National Tribal Museum
• Drinking water is a national priority. Allocation of Rs 11,500 crore nationally against an approved plan of Rs 3 lakh crore is too little. In fact Odisha spends about Rs 3600 crore in drinking water
• Sensex is an indicator of investor confidence. The drop of almost 1,000 points today shows that there is a huge scope to take a number of measures.
• Investor confidence is important for fresh investments to come in, to spur growth which is the biggest challenge now. This will have a huge impact on job creation and livelihood options for youth.