Published On: Sat, Jun 20th, 2015

Odisha CM stresses on collection of revenue arrears

An apex committee would be formed under the chairmanship of chief secretary to achieve better utilisation of resources and meet fiscal targets stipulated under Odisha Fiscal Responsibility and Budget Management (FRBM) Act. The decision to form the committee was taken during a high level review meeting of finance department chaired by chief minister Naveen Patnaik. The committee will ensure that funds received by the state as per the recommendations of the 14th Finance Commission are utilised effectively and fiscal discipline is met as per the FRBM Act.

Patnaik also emphasised on the need to speed up recovery of pending revenue. The finance department needs to take up a review meeting every month to expedite collection of dues, he stressed.

In 2014-15, the state government collected revenue arrears worth Rs 1300 crore through mutual settlement. Plan expenditure in the last fiscal stood at Rs 29984 crore.

Capital expenditure as a percentage of the gross state domestic product (GSDP) moved up from 2.84 per cent in 2013-14 to 3.6 per cent in 2014-15.

The chief minister expressed satisfaction at the pace of expenditure achieved in 2014-15 and called for timely spending of Budget outlays in the current fiscal.

 

[“source – business-standard.com”]