Odisha posted a revenue surplus of ₹19,456 crore in FY 2023, ranking 3rd among 16 Indian states, showcasing fiscal discipline and strong revenue growth
OdishaPlus Bureau
Odisha ranks among the leading states in India, achieving a significant revenue surplus of Rs 19,456 crore for the fiscal year 2023.
It has been positioned third among the 16 states with revenue surpluses, as per a pioneering decadal analysis of state finances conducted by the Comptroller and Auditor General (CAG).
The report, titled ‘State Finances 2022-23,’ indicated that Odisha, along with states such as Uttar Pradesh (Rs 37,263 crore) and Gujarat (Rs 19,865 crore), exceeded its revenue expenditure due to strong revenue receipts.
The remaining states in the top-16 include Jharkhand (Rs 13,564 crore), Karnataka (Rs 13,496 crore), Chhattisgarh (Rs 8,592 crore), Telangana (Rs 5,944 crore), Uttarakhand (Rs 5,310 crore), Madhya Pradesh (Rs 4,091 crore), and Goa (Rs 2,399 crore). Additionally, the northeastern states of Arunachal Pradesh, Manipur, Mizoram, Nagaland, Tripura, and Sikkim were also recognized as surplus states.
The XV Finance Commission had instructed states to attain a zero-revenue deficit or surplus status for the fiscal year, a goal that Odisha accomplished, highlighting the state’s fiscal discipline and proficient financial management during this period.
The report, unveiled by CAG Sanjay Murthy on Friday, noted that 12 states experienced a revenue deficit in 2022-23. These states include Andhra Pradesh (-Rs 43,488 crore), Tamil Nadu (-Rs 36,215 crore), Rajasthan (-Rs 31,491 crore), West Bengal (-Rs 27,295 crore), Punjab (-Rs 26,045 crore), Haryana (-Rs 17,212 crore), Assam (-Rs 12,072 crore), Bihar (-Rs 11,288 crore), Himachal Pradesh (-Rs 6,336 crore), Kerala (-Rs 9,226 crore), Maharashtra (-Rs 1,936 crore), and Meghalaya (-Rs 44 crore).
It was further noted that West Bengal, Kerala, Himachal Pradesh, and Punjab have become increasingly dependent on revenue deficit grants from the Central Government. “In the fiscal year 2023, West Bengal received the highest proportion of 16% in grants to address the disparity between its revenue receipts and expenditures, followed by Kerala at 15%, Andhra Pradesh at 12%, Himachal Pradesh at 11%, and Punjab at 10%.”
