Odisha’s economy is on the path of recovery after the Kovid-19 pandemic and the expenditure on the infrastructure sector has increased to 55 percent by December 31, 2022.
Bhubaneswar: Odisha’s economy is on the path of recovery after the Kovid-19 pandemic and the expenditure on the infrastructure sector has increased to 55 percent by December 31, 2022. The expenditure in the infrastructure sector till December 31, 2021 was 32.7 per cent. There has been a growth of 103 per cent in this sector, which shows that the economy is back on track. Official sources said spending in the overall development sector has gone up by 25 per cent, which has helped keep the growth rate at an optimistic 6.5 per cent.
Out of the total budget of Rs 2 lakh crore, program expenditure was Rs 1 lakh crore, i.e. 50 per cent of the budget. The focus of the state government is now on education, health, drinking water, irrigation, rural connectivity, sanitation and urban civic amenities. In line with this, the state government is expected to provide more funds to these sectors in the 2023-24 budget.
As on December 31, 53.2 per cent of the budget estimate has been spent on infrastructure as well as agriculture and allied sectors, as against 52.5 per cent last year. A provision of Rs 20,344 crore was made for the sector in the budget of 2022-23. However, the thrust in agriculture and allied sector is increasing the income of farmers through promotion of fisheries and animal husbandry, better marketing infrastructure, price support and crop diversification.
Increased spending on infrastructure sector, Odisha’s economy on the path of improvement
Story first published: Thursday, January 12, 2023, 20:27 [IST]