Bhubaneswar: Odisha ranks numero uno among the revenue surplus States in the country.
According to a report, in 2021-2022 financial year Odisha’s revenue surplus stood at a whopping Rs 43,471 crore.
Odisha is followed by Uttar Pradesh which had a revenue surplus of Rs 33,430 crore, while that of Delhi is Rs 3,269 crore.
Odisha has been a revenue surplus State after 2004-05.
Among the bigger states Jharkhand has a revenue surplus of Rs 6,943 crore, Gujarat Rs 6,408 crore, Madhya Pradesh Rs 4,814 crore, and Chhattisgarh Rs 4,642 crore.
While Tamilnadu has the highest revenue deficit of 46,538 crore, Rajasthan has a revenue deficit of Rs 25,869 crore, Maharashtra Rs 16,374 crore, and West Bengal Rs 32,000 crore.
Similarly, Telengana, Andhra Pradesh, Karnataka, Punjab and Haryana are also revenue deficit.
Prior to implementation of Fiscal Responsibility and Budget Management Act at the national level, Odisha used to be on overdraft for nearly 300 days in a year.
However, the situation completely changed for the better after 2004-05 and the trend continues.
Economic activity was severely affected during the Covid-19 epidemic. Despite this, it was estimated in the annual budget that Odisha will have a revenue surplus of Rs 2,336 crore in 2020-21. Odisha had a revenue surplus of Rs 9,509 crore in 2019-20. In 2018-19 the state’s annual budget estimated the revenue surplus at Rs 9,980 crore and Rs 6,694 crore in 2017-18.
