Odisha State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Odisha FY 2023-24
Odisha State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 1.85 lakh crore
+67.9%
Total Expenditure
Rs 2.12 lakh crore
+46.6%
Fiscal Deficit
3.0%
Rs 24,982 crore
Capital Expenditure
Rs 46,152 crore
+61.9%
Tax Revenue
Rs 54,000 crore
+40.3%
Interest Payments
Rs 6,724 crore
3% of expenditure
Odisha Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
Odisha Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Odisha 2023-24
The fiscal deficit for Odisha in 2023-24 is 3.0% of GSDP (Rs 24,982 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 6,724 crore consume 3.2% of total expenditure.
Odisha State Budget 2023-24 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.3 lakh crore | 100% |
| 1. Revenue Receipts | Rs 1.85 lakh crore | 80.7% |
| a. Own Tax Revenue | Rs 54,000 crore | 23.5% |
| b. Non-Tax Revenue | Rs 52,500 crore | 22.8% |
| B. Total Expenditure | Rs 2.12 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 1.63 lakh crore | 77.1% |
| 2. Capital Expenditure | Rs 46,152 crore | 21.8% |
| of which: Interest Payments | Rs 6,724 crore | 3.2% |
| C. Fiscal Deficit | Rs 24,982 crore | 3.0% of GSDP |
Source: Odisha State Budget Documents via PRS India. All figures in Indian Rupees.
Odisha Department-wise Expenditure 2023-24
Top departments by allocation in Odisha for 2023-24
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 18,500 crore | Rs 2,000 crore | Rs 20,500 crore | 9.7% |
2. Rural Development | Rs 14,000 crore | Rs 6,000 crore | Rs 20,000 crore | 9.5% |
3. Social Welfare | Rs 10,500 crore | Rs 1,400 crore | Rs 11,900 crore | 5.6% |
4. Water Resources & Irrigation | Rs 4,000 crore | Rs 7,800 crore | Rs 11,800 crore | 5.6% |
5. Health & Family Welfare | Rs 9,200 crore | Rs 2,500 crore | Rs 11,700 crore | 5.5% |
6. Transport & Roads | Rs 4,200 crore | Rs 7,000 crore | Rs 11,200 crore | 5.3% |
7. Agriculture & Allied | Rs 7,500 crore | Rs 3,000 crore | Rs 10,500 crore | 5.0% |
8. Energy | Rs 6,200 crore | Rs 3,800 crore | Rs 10,000 crore | 4.7% |
9. Urban Development | Rs 4,500 crore | Rs 3,500 crore | Rs 8,000 crore | 3.8% |
10. Police & Home | Rs 5,200 crore | Rs 1,000 crore | Rs 6,200 crore | 2.9% |
Odisha Budget 2023-24 Analysis & Highlights
Key Highlights
- Final revised estimates under Naveen Patnaik government after 24 years.
- Revenue surplus maintained as mining collections exceeded budget estimates.
- Fiscal deficit at Rs 22,000 crore โ 2.5% of GSDP, well within prudent limits.
- Iron ore price stability provided windfall mining revenue.
- Capital expenditure at Rs 38,000 crore with industrial infrastructure dominant.
- Cyclone preparedness spending maintained at Rs 3,500 crore.
- Education spending at Rs 24,000 crore with model school programme at full scale.
- Biju Swasthya Kalyan Yojana covered 96 lakh families.
- Tax revenue grew 13% driven by industrial GST contributions.
- Outstanding debt at Rs 1,20,000 crore โ debt-to-GSDP at 14.2%.
Compare Odisha Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 1.44 lakh crore | Rs 2.12 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 1.1 lakh crore | Rs 1.85 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 28,500 crore | Rs 46,152 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.0% | 3.0% |
| Own Tax Revenue | โ | โ | โ | Rs 38,500 crore | Rs 54,000 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Odisha State Budget 2023-24
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