Bhubaneswar: The council of ministers, chaired by Chief Minister Mohan Charan Majhi, approved the draft annual budget for the financial year 2024-25, amounting to approximately Rs 2.65 lakh crore, on Thursday, according to reliable sources.
The Chief Minister is slated to present the budget on July 25.
The current budget of Rs 2.65 lakh crore for the 2024-25 financial year surpasses the earlier estimate of Rs 2.55 lakh crore, which was presented by the previous BJD government in the vote on account in February, ahead of the Lok Sabha and Assembly elections.
The increased allocation in the budget is largely due to the government’s proposed investment in the Subhadra Yojana initiative, scheduled to be launched on September 17, marking the birthday of Prime Minister Narendra Modi.
Besides, the government has allocated funds for paddy purchase at a premium rate of Rs 3,100 per quintal, surpassing the Centre’s fixed minimum support price of Rs 2,300 by Rs 800 per quintal for the 2024-2025 Kharif season. This decision is aimed at boosting the livelihoods of farmers.
