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Feb 25, 2012

Odisha Budget 2012-13, Priority to Agriculture Sector

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Odisha News: The Finance Minister of Odisha, Prafulla Chandra Ghadai has presented the
state budget for the year 2012-13 giving priority to the agriculture sector. The finance minister has given special attention for agriculture in the state, as in this Odisha budget the allocation for agriculture department has been increased by 42.64 per cent to Rs 1,516.16 crore from Rs 1,167.98 crore in 2011-12.

The finance minister also hiked the VAT to 5 per cent from 4 per cent making medicine, steel, food items, sugar and textile dearer for the consumers in the state from April 2012.

Ghadai has presented a revenue surplus budget of Rs. 52,030.70 crore for the year 2012-13. The fiscal deficit of the state has been pegged at Rs 4,751 crore, considering the revenue surplus of Rs 2,410.77 crore out of the total fiscal deficit of Rs 52,755.15 crore.

Rs. 17, 200 crore have been fixed for the state's annual plan size for 2012-13 and estimated Rs 34,350.49 crore for non-plan expenditure in the state budget.


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