Odisha State Budget 2021-22 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Odisha FY 2021-22
Odisha State Budget 2021-22 Budget at a Glance
Total Receipts
Rs 97,200 crore
+24.9%
Total Expenditure
Rs 1.26 lakh crore
+15.6%
Fiscal Deficit
2.7%
Rs 16,200 crore
Capital Expenditure
Rs 24,200 crore
+49.4%
Tax Revenue
Rs 32,800 crore
+30.2%
Interest Payments
Rs 11,000 crore
9% of expenditure
Odisha Revenue Receipts 2021-22
Own tax revenue vs non-tax revenue breakdown
Odisha Expenditure Breakdown 2021-22
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Odisha 2021-22
The fiscal deficit for Odisha in 2021-22 is 2.7% of GSDP (Rs 16,200 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Odisha is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 11,000 crore consume 8.8% of total expenditure.
Odisha State Budget 2021-22 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 1.36 lakh crore | 100% |
| 1. Revenue Receipts | Rs 97,200 crore | 71.6% |
| a. Own Tax Revenue | Rs 32,800 crore | 24.2% |
| b. Non-Tax Revenue | Rs 18,500 crore | 13.6% |
| B. Total Expenditure | Rs 1.26 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 1.01 lakh crore | 80.7% |
| 2. Capital Expenditure | Rs 24,200 crore | 19.3% |
| of which: Interest Payments | Rs 11,000 crore | 8.8% |
| C. Fiscal Deficit | Rs 16,200 crore | 2.7% of GSDP |
Source: Odisha State Budget Documents via PRS India. All figures in Indian Rupees.
Odisha Budget 2021-22 Analysis & Highlights
Key Highlights
- Revenue receipts surged to Rs 97,200 crore as mining royalties boomed with iron ore prices exceeding $150 per tonne.
- Fiscal deficit at 2.7% of GSDP at Rs 16,200 crore widened as the state invested heavily in capital infrastructure.
- GSDP rebounded to Rs 6,00,000 crore with 15% nominal growth driven by mining, steel production, and post-pandemic recovery.
- Capital expenditure at Rs 24,200 crore set a new record, with Odisha maintaining among the highest capex ratios nationally.
- Mining sector contributed Rs 18,500 crore in non-tax revenue, a windfall from the global commodity supercycle.
- Cyclone Yaas response in May 2021 demonstrated continued disaster management excellence with minimal casualties.
- Education spending expanded digital infrastructure under the MO School programme transforming 3,000 schools.
- BSKY health insurance provided cashless treatment up to Rs 5 lakh per family covering 96 lakh families.
- Total outstanding debt-to-GSDP ratio improved to 20.8% despite increased borrowing for capital investment.
- The state launched the Odisha Industrial Policy Resolution 2022 targeting Rs 5 lakh crore in industrial investment.
- Food security programme maintained Rs 1 per kg rice for 4.2 crore beneficiaries throughout pandemic recovery.
- Interest payments at Rs 11,000 crore consumed only 11% of revenue receipts, well within comfort zone.
- Market borrowings of Rs 26,000 crore financed capital-heavy spending for industrial growth positioning.
- Women-led SHG initiative achieved Rs 50,000 crore cumulative bank credit linkage across 7 lakh groups.
Compare Odisha Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 1.09 lakh crore | Rs 1.26 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 77,800 crore | Rs 97,200 crore |
| Capital Expenditure | โ | โ | โ | Rs 16,200 crore | Rs 24,200 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.5% | 2.7% |
| Own Tax Revenue | โ | โ | โ | Rs 25,200 crore | Rs 32,800 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Odisha State Budget 2021-22
The Odisha state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Odisha Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
Explore More
Compare Odisha with other states
Side-by-side comparison of fiscal metrics across Indian states