Odisha CM gives mixed reaction to Budget 2020

Bhubaneswar: Odisha Chief Minister Naveen Patnaik gave a mixed reaction to the Union Budget 2020-21 presented by Finance Minister Nirmala Sitharaman in the Parliament on Saturday.

While he welcomed some announcements, the Chief Minister also expressed concern over other announcements.

He said almost all allocations under centrally sponsored schemes have been stagnant.

“The divisible pool of Central Taxes has shrunk by almost Rs 59,000 crore. This will reduce Odisha’s share by about Rs 3000 crore,” said the Chief Minister.

He said none of the archaeological sites of Odisha have been included in the iconic sites to be developed by the Centre while Odisha deserves a National Tribal Museum.

 “Drinking water is a national priority. Allocation of Rs 11,500 crore nationally against an approved plan of Rs 3.6 lakh crore is too little. In fact, Odisha spends about Rs 3600 crore in drinking water,” said the Chief Minister.

He said the drop of almost 1000 points in Sensex today shows that there is a huge scope to take a number of measures.  

“Investor confidence is important for fresh investments to come in, to spur growth which is the biggest challenge now. This will have a huge impact on job creation and livelihood options for our youth,” he added.

The Chief Minister welcomed initiatives like Krishi Rail and Krishi Udan for a seamless national cold supply chain.

He also welcomed PM-KUSUM to cover 20 lakh farmers for solar pumps and removal of dividend distribution tax and introduction of the concessional component tax.

He also welcomed the decision to increase deposit insurance coverage from Rs 1 lakh to Rs 5 lakh and announcement for New Education Policy and FDI in the education sector.