Odisha's Fiscal Deficit and Revenue gap for 2024-25

Current fiscal deficit and revenue gap for Odisha 2024 25

For the fiscal year 2024-25, Odisha's fiscal deficit is targeted at 3.5% of its Gross State Domestic Product (GSDP), amounting to Rs 32,403 crore. This is higher than the revised estimates for 2023-24, where the fiscal deficit was 3% of GSDP. The revenue surplus for 2024-25 is estimated at 3% of GSDP, which corresponds to Rs 27,437 crore, indicating that the state expects its revenue receipts to exceed revenue expenditures by this margin. The state has planned total expenditure (excluding debt repayment) of Rs 2,43,908 crore, which is a 15% increase over the previous year's revised estimates, with revenue receipts (excluding borrowings) estimated at Rs 2,11,505 crore, a 13% increase from 2023-24. Overall, Odisha maintains a prudent fiscal management stance with these targets for fiscal deficit and revenue surplus during 2024-25 [1][2][3].

Citations:
[1] Odisha Budget Analysis 2024-25 https://prsindia.org/files/budget/budget_state/odisha/2024/Odisha_Budget_Analysis-2024-25.pdf
[2] Odisha Budget Analysis 2024-25 https://prsindia.org/budgets/states/odisha-budget-analysis-2024-25
[3] Budget 2024-25 https://finance.odisha.gov.in/sites/default/files/2024-07/10-People%20Guide_English.pdf
[4] Odisha Economic Survey 2024-25 - Finance Department https://finance.odisha.gov.in/sites/default/files/2025-02/Highlights%20and%20Executive%20Summary-English%20Version%20(1).pdf
[5] Finances of the State https://cag.gov.in/uploads/download_audit_report/2023/10.-Chapter-II-066e2805901fa19.17531001.pdf
[6] State of States https://nsearchives.nseindia.com/web/sites/default/files/inline-files/State_Budget_Analysis_FY25_20241015.pdf
[7] FISCAL HEALTH INDEX 2025 https://www.niti.gov.in/sites/default/files/2025-01/Fiscal_Health_Index_24012025_Final.pdf
[8] Fiscal Strategy Report - Finance Department https://finance.odisha.gov.in/sites/default/files/2024-07/19-Fiscal%20Strategy%20Report.pdf
[9] STATE GOVERNMENT FINANCES https://www.icra.in/Rating/DownloadResearchSummaryReport?id=6593
[10] RECEIPT BUDGET 2025-2026 https://www.indiabudget.gov.in/doc/rec/allrec.pdf