Revenue generation in Odisha goes up by 5.6 per cent by end of third quarter

Bhubaneswar: Odisha has maintained the upward trend in its fiscal position by the end of third quarter of the current financial year.  By December-end of the current fiscal, total revenue collection has gone up by 5.6 per cent over the corresponding period of last financial year.

This was revealed during all secretaries’ meeting held under the chairmanship of Chief Secretary Suresh Chandra Mahapatra at the Conference Hall of Lokseba Bhawan here today. Finance department Principal Secretary Vishal kumar Dev outlined the financial updates of the state at the meeting.

Reviewing fiscal performances of various departments, the Chief Secretary directed the departments to avoid parking of funds in the bank accounts of the implementing agencies so that actual expenditure would be reflected on the common treasury portal.

He also emphasized on strengthening of internal audit mechanism for wider transparency. The Chief Secretary directed the departments to adopt 5T parameters scrupulously while dealing with financial matters. The submission of utilisation certificates (UCs) in time bound manner should be given priority, he said.

It was revealed during the discussion that the revenue generation from own tax sources increased by 13.51 per cent with a total collection of around Rs 32,029 crore by the end of December, 2022 against corresponding period of last fiscal’s collection of Rs28, 216 crore.

Similarly, the revenue generation from non-tax sources grew around 1.17 per cent by end of December, 2022 in comparison to the corresponding period of the last fiscal with a total collection of Rs 63,523 crore.

Accordingly, the total revenue generation from both the sources by end of December, 2022 has gone up by 5.6 per cent over the corresponding period of last fiscal. In real terms, the total revenue has touched Rs 1,01,119 crore by end of December, 2022.

In spite of negative growth in grants from the Centre by about 21 per cent, total revenue collection in Odisha has risen by 5.6 per cent, revealed the meeting.

Keeping pace with the revenue generation, the budget utilisation by end of December, 2022 grew by 2.26 per cent over the last fiscal.  The budget utilization in agriculture and allied sector, infrastructure and social sector has been increased.

Development Commissioner Pradeep Kumar Jena, Forest, Environment & Climate Change department Additional Chief Secretary Mona Sharma along with Additional Chief Secretaries, Principal Secretaries, Secretaries and Special Secretaries of all departments participated in the discussion.