By The Odisha state government, led by Chief Minister Naveen Patnaik, presented its annual budget for the fiscal year 2024-25 on 2024. Finance Minister Bikram Keshari Arukha unveiled the Rs 2,55,000 crore ($31 billion) budget, which is an 11% increase from the previous year. This budget aims to boost the state’s economy, focusing on key sectors such as agriculture, healthcare, education, and infrastructure development.
Key Highlights
1. Allocation for Agriculture and Farmers’ Welfare
The Odisha government has allocated a substantial portion of the budget to agriculture and farmers’ welfare. The KALIA (Krushak Assistance for Livelihood and Income Augmentation) scheme, a flagship program of the state government, has been extended for another three years with a budget of Rs 6,029.70 crores ($740 million). This initiative aims to provide financial assistance to small and marginal farmers, landless agricultural laborers, and vulnerable agricultural households.
2. Healthcare and COVID-19 Management
In light of the ongoing COVID-19 pandemic, the Odisha government has prioritized healthcare in its budget. A significant allocation has been made to strengthen the state’s healthcare infrastructure, including the establishment of new medical colleges, upgrading existing hospitals, and improving primary healthcare centers.
3. Education and Skill Development
Education and skill development remain a key focus area for the Odisha government. The budget has provisioned for the establishment of new universities, colleges, and vocational training centers to enhance access to quality education and create a skilled workforce.
4. Infrastructure Development
The budget has allocated substantial funds for infrastructure development, including the construction of roads, bridges, and ports. The government aims to improve connectivity and create an enabling environment for industries to thrive.
5. Social Welfare Schemes
The Odisha budget 2024-25 has also emphasized various social welfare schemes, such as pension plans for the elderly, widows, and differently-abled individuals. The government has also allocated funds for the construction of housing for the economically weaker sections of society.
Comparative Analysis
To better understand the significance of the Odisha Budget 2024-25, let us compare it with the previous year’s budget.
| Sector | Budget 2023-24 (in crores) | Budget 2024-25 (in crores) | Percentage Change |
|——————————-|—————————-|—————————-|——————-|
| Agriculture and Allied Sectors| 17,469 | 19,735 | 12.97% |
| Healthcare | 9,164 | 10,534 | 14.95% |
| Education | 24,370 | 27,048 | 11.00% |
| Infrastructure Development | 13,785 | 15,715 | 14.00% |
| Social Welfare | 6,832 | 7,788 | 14.00% |
As evident from the table, the Odisha government has increased allocations across key sectors, with healthcare seeing the highest percentage increase at 14.95%, followed by infrastructure development and social welfare at 14% each.
Conclusion
The Odisha Budget 2024-25 is a comprehensive and growth-oriented budget that aims to address the state’s socio-economic challenges while laying the foundation for long-term sustainable development. With a focus on agriculture, healthcare, education, infrastructure, and social welfare, the budget demonstrates the government’s commitment to inclusive growth and the well-being of its citizens.
However, the effective implementation of the budget proposals will be crucial in realizing the desired outcomes. The government must ensure transparency, accountability, and efficient utilization of allocated funds. Moreover, the state must also focus on attracting private investments and creating an enabling environment for businesses to flourish, thus catalyzing economic growth and job creation.
The Odisha Budget 2024-25 is a progressive and well-balanced budget that has the potential to transform the state’s socio-economic landscape. Its success will depend on the government’s ability to translate its vision into action and ensure the benefits reach the intended beneficiaries.
Topsheet of Odisha Budget 2024-25:
1. Total Budget Outlay: Rs 2,55,000 crore ($31 billion)
2. Programme Expenditure: Rs 1,40,000 crore
3. Administrative Expenditure: Rs 1,03,500 crore
4. Agriculture and Allied Sectors Allocation: Rs 19,735 crore
5. Healthcare Allocation: Rs 10,534 crore
6. Education Allocation: Rs 27,048 crore
7. Infrastructure Development Allocation: Rs 15,715 crore
8. Social Welfare Allocation: Rs 7,788 crore
9. Railway Sector Allocation (from Central Government): Rs 10,536 crore
10. KALIA Scheme Allocation: Rs 6,029.70 crore ($740 million)
Based on the information provided in the video transcripts, here are the key details regarding the total receipts, fiscal deficit, and revenue surplus/deficit of the Odisha Budget 2024-25:
- Total Budget Outlay: The total budget outlay for the Odisha Budget 2024-25 is Rs 2,55,000 crore ($31 billion), which is an 11% increase from the previous year.
- Fiscal Deficit: The video transcripts do not provide specific information about the fiscal deficit for the Odisha Budget 2024-25. However, it is mentioned that the interim Union Budget 2024-25 has a fiscal deficit of 5.8% of GDP.
- Revenue Surplus/Deficit: The video transcripts do not provide information about the revenue surplus or deficit for the Odisha Budget 2024-25.
