'Public debt receipt increased by over Rs 5000 cr in Odisha'

Odisha's public debt receipt has increased by Rs 5,356 crore between 2010-11 and 2014-15, according to a report on state finances by the Comptroller & Auditor General (CAG) for the year ended March 2015.
Public debt receipt increased from Rs 2,290 crore in 2010-11 to Rs 7646 crore in 2014-15.
However, there has been increase in capital outlay by Rs 1,818 crore in 2014-15 alone, the CAG report tabled in the Assembly by Finance Minister Pradip Kumar Amat said.
It said the Capital expenditure of the state has increased significantly by 43 per cent over the previous year. "However, the Capital Expenditure was 3.56 per cent of GSDP as against the state government's projection of 5.55 per cent from 2014-15 and less than the budget estimates," the report said.

The total expenditure of the state increased by by 84 per cent between 2010-11 to 2014-15 from Rs 33,968 crore to Rs 62,569 crore due to increase in revenue expenditure, capital outlay and disbursement of loans and advances.
Revenue receipts of the state also showed progressive increase from Rs 33,276 crore in 2010-11 to Rs 56,998 crore in 2014-15, registering a growth of 71 per cent, the report said.

According to CAG report, the state lost Rs 1049.15 crore for failing to meet the guidelines laid out by the 13th Finance Commission.
As many as 32 departments of the state have not submitted utilisation certificate of funds to the tune of Rs 8561 crore to the central government, the report said raising concerns about the amount of money the State has lost for not fulfilling the guidelines of the commission.

Similarly, till 2015, around 33 organisations have not submitted utilisation certificates pertaining to Rs 20,940 crore.
By March 31, 2015, the State government had invested Rs 3504.87 crore in Statutory Corporations, Gramin Banks, joint companies and Cooperative societies. Odisha government's savings in 2014-15 were at Rs 18,774.84 crore, the report said.