Odisha First State in Country to Set up Budget Stabilisation Fund
Bhubaneswar: Odisha has become the first State in the country to set up a Budget Stabilisation Fund (BSF) to set aside certain surplus revenue for times of unexpected revenue shortfall or budget deficit. The Odisha Government has decided to set up the Rs 10,000 crore BSF, which would help the State in mitigating risk of [...]
Bhubaneswar: Odisha has become the first State in the country to set up a Budget Stabilisation Fund (BSF) to set aside certain surplus revenue for times of unexpected revenue shortfall or budget deficit.
The Odisha Government has decided to set up the Rs 10,000 crore BSF, which would help the State in mitigating risk of price shock of metals and other revenue shocks on the State Budget.
The BSF would be set up with a corpus of Rs 10,000 crore, which is the first of its kind in a State in the country, Finance Minister Niranjan Pujari said while presenting the annual budget of Rs 2 lakh crore for the year 2022-23 in the Assembly on Saturday.
He said that the BSF would help the State Government to set aside certain surplus revenue for times of unexpected revenue shortfall or budget deficit.
The budget 2022-23 focuses on achieving inclusive prosperity through human development, creation of physical and social infrastructure, provision of social safety nets for the disadvantaged and vulnerable sections and empowerment of women, youth, ST, SC, OBC, minorities, differently-abled and senior citizens, he added.
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