Budget Outlines
· Overall Budget Size: Likely to be over Rs 3 lakh crore, reflecting a robust financial plan.
· Previous Government’s Projection: Rs 2.5 lakh crore, showing a significant increase under the new administration.
· Subhadra Yojana Provision: Between Rs 30,000 crore and Rs 40,000 crore, demonstrating a strong commitment to women’s financial empowerment.
· Increased Paddy MSP: Rs 3,100 per quintal, requiring an additional Rs 8,000 crore to support farmers.
· Budget Presentation Date: Scheduled for July 25, with expectations of comprehensive coverage of new policies and initiatives.
The council of ministers, chaired by Chief Minister Mohan Charan Majhi, has approved the draft annual budget for the financial year 2024-25. The budget amounts to approximately Rs 2.65 lakh crore. CM Majhi is slated to present the budget on July 25, marking a significant milestone for the state’s financial planning.
Comparison with Previous Estimates
The current budget surpasses the earlier estimate of Rs 2.55 lakh crore, which was presented by the previous BJD government in the vote-on-account in February, ahead of the Lok Sabha and Assembly elections. The increase in the budget allocation is primarily due to the government’s proposed investment in several key initiatives, reflecting the new administration’s priorities and commitments.
Subhadra Yojana Initiative
One of the major highlights of the new budget is the substantial investment in the Subhadra Yojana initiative. This scheme is scheduled to be launched on September 17, coinciding with the birthday of Prime Minister Narendra Modi. Under the Subhadra Yojana, every woman in the state will receive a cash voucher of Rs 50,000, which can be encashed over two years. The council of ministers has discussed the eligibility criteria for this scheme, which will be announced shortly. The financial provision for this initiative is estimated to be between Rs 30,000 crore and Rs 40,000 crore.
Support for Farmers
The government has also made significant allocations to support farmers. Funds have been earmarked for purchasing paddy at a premium rate of Rs 3,100 per quintal, which is Rs 800 more than the Centre’s fixed minimum support price of Rs 2,300 per quintal for the 2024-2025 Kharif season. This decision is aimed at enhancing the livelihoods of farmers, requiring an additional provision of around Rs 8,000 crore. This measure demonstrates the government’s commitment to agricultural welfare and economic stability in rural areas.
Overall Budget Size
The state budget for the 2024-25 fiscal year is likely to touch Rs 3 lakh crore, a significant increase from the Rs 2.5 lakh crore projected by the previous BJD government. The additional funds are necessary to implement several new schemes announced in the BJP’s election manifesto, ensuring the fulfilment of promises made to the electorate.
Key Schemes and Discussions
The council of ministers also reviewed and discussed various existing and new schemes. This includes the Biju Swasthya Kalyan Yojana (BSKY), KALIA, and other flagship programs from the previous administration. The BJP had promised to implement the Ayushman Bharat-Pradhan Mantri Aarogya Yojana and Pradhan Mantri Kisan Samman Nidhi, which are now integral parts of their policy agenda.
Action Plan and Progress
The 100-day action plan of the government was a key topic of discussion. The progress made by different departments in implementing the various promises outlined in the manifesto was evaluated. This first budget under the BJP government is expected to outline the policies and initiatives that will be pursued over the next five years, setting the foundation for future development and governance.
This budget session is crucial as it will highlight the new government’s focus on welfare schemes, agricultural support, and overall economic development. The increased allocations and new initiatives are designed to address both immediate needs and long-term goals, ensuring a balanced and progressive approach to governance and development in the state.
(With inputs from agencies)
