Orissa posts Rs 3034 cr revenue surplus

The Orissa government has achieved surplus in its revenue account during 2008-09 notwithstanding the negative impact of the economic slowdown on tax and non-tax revenue collection during the second half of the last fiscal,

It achieved a revenue surplus of Rs 3034.95 crore during the fiscal compared to Rs.4296 crore in 2007-08. Orissa had achieved revenue surplus of Rs 481 crore for the first time in 2005-06 after a gap of 22 years.

This is the fourth year in a row that the Naveen Patnaik government has been able to post revenue surplus even after enhancing the size of the state plan substantially.

Higher collection of tax and non-tax revenue, less than the budgeted revenue expenditure and less drawal from the provisions made for payment of the revised pay as per the recommendations of the sixth pay commission during the fiscal have contributed to the surplus in revenue account.

On the other hand, there was fiscal deficit of Rs 891.24 crore in 2008-09 compared to fiscal surplus of Rs 1410 crore in 2007-08.