Odisha annual growth rate dipped sharply: CAG

The Comptroller and Auditor General (CAG) of India has said though revenue receipts of Odisha showed progressive increase, the annual growth rate came down sharply to 9.11 per cent during 2012-13 from 21 per cent in 2011-12.
"Though revenue receipts showed progressive increase from Rs 24,610 crore in 2008-09 to Rs 43,937 crore in 2012-13, registering a growth of 79 per cent, yet the annual growth rate has come down sharply to 9.11 per cent during 2012-13 from 21 per cent in 2011-12," the CAG report said on the state's finances.
The government may mobilise additional resources through tax and non-tax revenue by expanding the tax base, said the CAG report which was tabled in Odisha Assembly today.

Revenue expenditure which constituted 87 per cent of the total expenditure during 2012-13, increased by ten per cent over the previous year, it said.
The report said non-plan revenue expenditure as a proportion of revenue expenditure, increased from Rs 15,882 crore in 2008-09 to Rs 26,645 crore in 2012-13 with a 70 per cent jump and exceeded the thirteenth finance commission's normative assessment by Rs 3,893 crore.
On financial management and budgetary control, the CAG report said during 2012-13, there was overall saving of Rs 9,335.72 crore but the savings were mainly due to reasons like non-implementation of schemes and less requirement of funds.