Odisha State Budget 2022-23 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Odisha FY 2022-23
Odisha State Budget 2022-23 Budget at a Glance
Total Receipts
Rs 1.1 lakh crore
+13.7%
Total Expenditure
Rs 1.44 lakh crore
+14.8%
Fiscal Deficit
3.0%
Rs 19,800 crore
Capital Expenditure
Rs 28,500 crore
+17.8%
Tax Revenue
Rs 38,500 crore
+17.4%
Interest Payments
Rs 13,000 crore
9% of expenditure
Odisha Revenue Receipts 2022-23
Own tax revenue vs non-tax revenue breakdown
Odisha Expenditure Breakdown 2022-23
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Odisha 2022-23
The fiscal deficit for Odisha in 2022-23 is 3.0% of GSDP (Rs 19,800 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 13,000 crore consume 9.0% of total expenditure.
Odisha State Budget 2022-23 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 1.55 lakh crore | 100% |
| 1. Revenue Receipts | Rs 1.1 lakh crore | 71.2% |
| a. Own Tax Revenue | Rs 38,500 crore | 24.8% |
| b. Non-Tax Revenue | Rs 20,200 crore | 13.0% |
| B. Total Expenditure | Rs 1.44 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 1.16 lakh crore | 80.2% |
| 2. Capital Expenditure | Rs 28,500 crore | 19.8% |
| of which: Interest Payments | Rs 13,000 crore | 9.0% |
| C. Fiscal Deficit | Rs 19,800 crore | 3.0% of GSDP |
Source: Odisha State Budget Documents via PRS India. All figures in Indian Rupees.
Odisha Budget 2022-23 Analysis & Highlights
Key Highlights
- Revenue receipts reached Rs 1,10,500 crore, crossing the Rs 1 lakh crore milestone for the first time in Odisha's history.
- Mining royalties and premium contributed Rs 20,200 crore as iron ore and steel markets remained strong.
- Fiscal deficit at 3.0% of GSDP at Rs 19,800 crore widened as the state accelerated infrastructure spending.
- GSDP at Rs 6,60,000 crore grew at 10% nominally with diversifying economic drivers beyond mining.
- Capital expenditure surged to Rs 28,500 crore, the highest ever, maintaining Odisha's position as a top capex state.
- The state attracted Rs 10.5 lakh crore in investment intent at the Make in Odisha conclave.
- Education spending introduced coding, AI, and computational thinking in 5,000 secondary schools.
- BSKY health insurance expanded to provide Rs 10 lakh cashless treatment for women, India's highest state health cover.
- Total outstanding debt-to-GSDP ratio at 21.5% remained conservative by national standards.
- Food security programme innovation included fortified rice distribution to address micronutrient deficiencies.
- The Paradip-Dhamra port corridor emerged as India's second-largest cargo handling region after Gujarat.
- Interest payments at Rs 13,000 crore consumed 12% of revenue receipts, a comfortable level.
- Women's SHG credit linkage exceeded Rs 60,000 crore cumulatively as Mission Shakti scaled further.
- The state launched the Odisha Green Energy Policy targeting 10 GW renewable capacity by 2030.
- Market borrowings of Rs 30,000 crore financed the ambitious capital expenditure programme.
Compare Odisha Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 1.26 lakh crore | Rs 1.44 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 97,200 crore | Rs 1.1 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 24,200 crore | Rs 28,500 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 2.7% | 3.0% |
| Own Tax Revenue | โ | โ | โ | Rs 32,800 crore | Rs 38,500 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Odisha State Budget 2022-23
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