Odisha will be hit by 'drastic reduction' of share in Central taxes: Naveen Patnaik
By :
Notice: Trying to get property 'fName' of non-object in /home/newobserverdawn/public_html/module/Application/view/application/index/news.phtml on line 23
Notice: Trying to get property 'lName' of non-object in /home/newobserverdawn/public_html/module/Application/view/application/index/news.phtml on line 23
Odisha Chief Minister Naveen Patnaik on Monday said the state would be hit by 'drastic reduction' of its share in Central taxes.
Reacting to the Union Budget 2021-22, Mr Patnaik, in a statement said, 'Odisha would be hit by drastic reduction of share in Central taxes by about Rs 10,840 crore for the current year and as per the recommendations of the 15th Finance Commission, the horizontal share will decrease from 4.629 per cent to 4.528 per cent for coming five years. This will seriously impact the state.
'Further, capital investments were very much required in Odisha both in railways and highways sectors, as it has been planned for other states,' he said.
Mr Patnaik said there was a need to increase allocation in social assistance programmes and quantum of transfer for local bodies.
'Centralisation of revenue by introduction of cess in petrol and diesel will weaken the Centre-state fiscal balance,' he added.
'Banks have to be made accountable to extend credit to women, farmers and MSMEs,' the Chief Minister said.
'This is the first budget in post COVID scenario and there are lot of new challenges, which this budget is expected to address.
'Some of the positive points are: Focus on capital investment to push growth; Reintroduction of developmental financial institution; Allocation for COVID vaccine; Industry and sector specific interventions offer hope if matched with allocation; Bold decision to expand fiscal deficit to provide growth impetus and medium, and long term vision for 'Self reliant India', ' added Mr Patnaik.
He said, 'I am happy to note that the Union Budget has turned Green with digital budget like what Odisha
has been following from last year. I am also delighted to see Mission Shakti appear in the Union Budget, focusing on women empowerment.
'After Odisha's Mamata scheme was adopted by the Union Government from 2011-2012, replication of our state's flagship women empowerment initiative Mission Shakti clearly shows that Odisha sets the bench mark for the nation,' added the Chief Minister.
'I am hopeful that after Mamata and Mission Sakti, the next logical step towards women empowerment would be reservation for women in the Lok Sabha and the State Assemblies. We will continue to fight for this,' he further added.
