Odisha Budget outgo up 16% to Rs 1.39 trn, stake eyes 8-8.5% growth in FY20

Budget seeks to strike balance between fiscal prudence and funding a bevy of welfare schemes, by curbing fiscal deficit for FY20 at 3.49% within the 3.5% cap mandated under FRBM Act

Odisha presented a revenue surplus Budget, pegging the outgo at Rs 1.39 trillion for 2019-20, higher by 16 per cent over FY19. The Budget seeks to strike a balance between fiscal prudence and funding a bevy of social security & welfare schemes, by restraining the fiscal deficit for FY20 at 3.49 per cent within the limit of 3.5 per cent mandated under Fiscal Responsibility & Budget Management (FRBM) Act.

The Budget forecasts a growth rate of 8-8.5 per cent for the state Gross State Domestic Product (GSDP), continuing the high growth trajectory over the last five years. 

The outlay is proposed to