Bhubaneswar: The state of Odisha has excelled in financial management said a report from the Reserve Bank of India on Thursday.
The reports said that, with prudent fiscal management and robust policy framework, Odisha has set a benchmark in the country with zero borrowing from the market.
As per the recent RBI report, Odisha is the only state which has not borrowed from the market since 2021. The report further added that the capital expenditure in the state of Odisha however is the highest among all major States in the country and the programming expenditure has been clocked at around Rs. 1,25,000 crore.
The details thereof has been shared by the Office of the Chief Minister on the official X (formerly known as Twitter) handle on the fact that Odisha excels in financial management.
Here is the X post:
With prudent fiscal management & robust policy framework, #Odisha has set a benchmark in the country with zero borrowing from market. As per @RBI report, Odisha is the only state which has not borrowed from the market since 2021 while capital expenditure is highest among all… pic.twitter.com/fq3pXSH19E
— CMO Odisha (@CMO_Odisha) February 8, 2024
Further it is worth mentioning that, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Thursday retained the repo rate at 6.50 per cent. The repo rate is the rate at which the RBI lends to the commercial banks.
Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Thursday that the committee decided to keep the repo rate at 6.5 per cent.
The Budget Session of Odisha Assembly began on February 5. The session is scheduled to continue till February 13. The Interim Budget is likely to be presented on February 8 that is on Thursday.
This will be last Budget session before the Assembly elections that is to be conducted in April-May, 2024. However, the session has started on a stormy note, with the Opposition Bharatiya Janata Party (BJP) and Congress attacking the ruling government with several issues. Meanwhile, the ruling Biju Janata Dal (BJD) has said they are ready to face the opposition on the floor of the House.
Ms Kalinga