Orissa spends only 32% of budgeted funds
The Orissa government spends only 32 per cent of the total allocated funds under various development projects in the current fiscal. There was allocation of Rs 36, 334 crore for the current fiscal but only Rs 11,950 crore have been used till November 2008.
The finance minister Prafulla Chandra Ghadai has reviewed the funds utilization and tax collection by various department in the state for the current fiscal. The minister said that the state was also under the impact of the global financial crisis.
The global meltdown has resulted the lower rate of tax collection in the state. As industries in the state have been badly affected due to the global meltdown. Against a target of mopping up Rs 5099.98 crore for the year 2008-09, the collection is Rs 3646.75 crore by December 31, 2008.
The finance minister Prafulla Chandra Ghadai has reviewed the funds utilization and tax collection by various department in the state for the current fiscal. The minister said that the state was also under the impact of the global financial crisis.
The global meltdown has resulted the lower rate of tax collection in the state. As industries in the state have been badly affected due to the global meltdown. Against a target of mopping up Rs 5099.98 crore for the year 2008-09, the collection is Rs 3646.75 crore by December 31, 2008.
posted by Neel @ 10:15 AM
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