Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
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Industry & Economy
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Economy Orissa annual Plan fixed at Rs 3,500 cr Our Bureau
New Delhi , Jan. 19 THE annual Plan of Orissa for the next fiscal has been pegged at Rs 3,500 crore, inclusive of additional Central assistance of Rs 68 crore for projects of special priority to the State, at a meeting here between the Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, and the State Chief Minister, Mr Navin Patnaik. While complimenting the State for effecting distinct improvement in the fiscal indicators, Mr Ahluwalia said growth rate, fiscal deficit as well as revenue deficit were all moving in the positive direction. The State was asked to give focused thrust on critical sectors which include power, accelerated irrigation benefit programme and integrated child development scheme. It should also lay due emphasis on tapping huge unfulfilled potentials in fisheries, animal husbandry and horticulture. He urged Orissa to put in place a globally comparable rehabilitation policy to generate public support for the development strategy. Briefing the Plan panel, Mr Patnaik said the State Government had taken a number of measures for augmenting revenue and compressing unproductive expenditure. The Orissa Fiscal Responsibility & Budget Management Act 2005 mandates that revenue deficit should be brought down to zero level and fiscal deficit to 3 per cent of Gross State Domestic Product by the end of 2008-09. The State has been able to realise enhanced resources from its own effort from Rs 490.02 crore in 2002-03 to Rs 2,133.39 crore in 2004-05. He said a comprehensive and exhaustive rehabilitation programme was being evolved.
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