The Budget projects a revenue surplus of Rs 9,509.14 crore for FY21 while fiscal deficit is seen at three per cent, well within the prescribed limit of state Fiscal Responsibility & Budget Management (FRBM) Act. As per the Revised Estimates (RE) for 2019-20, the state will have Rs 6,175 crore revenue surplus while the fiscal deficit is estimated to be 3.4 per cent of Gross State Domestic Product (GSDP) which is within the permissible limit of FRBM target for Odisha.
“The outlay is proposed to be financed mainly through revenue receipts of Rs 1.24 trillion and borrowing & other receipts worth Rs 25,700 crore. Total revenue receipts for 2020-21 include the state's own tax revenue of Rs 38,350 crore, own non-tax revenue of Rs 17,650 crore, state's share in central taxes for Rs 36,300 crore and grants from the Centre for Rs 32,000 crore”, Odisha's finance minister Niranjan Pujari said in his Budget speech.
The Budget claimed that the allocation in health sector has been hiked two-fold to Rs 7,700 crore within five years. Recognizing tertiary health care as a critical requirement for the state, it has been proposed to transform the government owned SCB Medical College into a state-of-the-art world class facility and into an AIIMS Plus integrated medical institution with 3000 beds. An investment of more than Rs 3,000 crore is proposed over the next two years. Besides, the Budget has earmarked Rs 562 crore to help establish new medical colleges.
A separate Nutrition Budget statement has been envisaged for 2020-21 with Rs 5,210 crore for nutrition specific and Rs 23,754 crore for nutrition sensitive schemes in the Budget.
Promising electricity for all, the Budget has allocated a sum of Rs 882 crore as state share under Pradhan Mantri Sahaj Bijli Har Ghar Yojana or Saubhagya scheme, Rajiv Gandhi Grameen Vudyutikaran Yojana (RGGUVY) and Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). Besides, there is an outlay of Rs 200 crore under State Capital Region Improvement in Power System (SCRIPS) and Rs 150 crore for Integrated Power Development Scheme (IPDS).
Enthused by the roaring success of the first two editions of the showpiece 'Make in Odisha' conclave, the Budget has proposed Rs 70 crore for the third edition scheduled in November this year. The MSME (micro, small & medium enterprises) sector has got a boost with allocation ramped up to Rs 250 crore, 30 per cent higher than last year.
Keeping to its aim of a transformative aspiration for tourism, the Budget has more than doubled the allocation from Rs 194 crore to Rs 401 crore. Almost half of this envisaged outlay will be used for creation and management of world class tourist infrastructure. Likewise, Rs 80 crore has been proposed for Bay Area development in Shamuka beach.
Taking note of the role of IT sector in New Odisha's transformation, the allocation has been doubled to Rs 236 crore split into Rs 112 crore for IT infrastructure & connectivity and Rs 16 crore for new centres of Software Technology Parks of India (STPI). A new Innovation Tower is proposed to be constructed in Bhubaneswar at a cost of Rs 59 crore.
Continuing its tradition since 2013-14, the state laid a separate Budget for agriculture with an outlay of Rs 19,408 crore.