Fiscal Adjustments of Odisha: Examining the Alignment of Program Spending with Welfare Goals and Administrative Costs, Budget 2024-25
Fiscal Adjustments of Odisha: Examining the Alignment of Program Spending with Welfare Goals and Administrative Costs, Budget 2024-25
Menaka Das1, Anadi Charan Das2
1Ph.D Research Scholar in Economics, Fakir Mohan University, Odisha, India
2Assistant Prof. of Economics, Model Degree College, Deogarh, Odisha, India
*Corresponding Author: Menaka Das, Email ID – dasmenaka2000@gmail.com
Abstract
The fiscal years 2023-24 to 2024-25 represent a pivotal period in public financial management, marked by a pronounced increase in program expenditure and a modest rise in administrative costs. This strategic shift reflects the government’s commitment to advancing development and welfare objectives while ensuring bureaucratic stability. Program expenditure surged from ₹1,00,000 crore to ₹1,55,000 crore, indicating a robust focus on socio-economic issues and the enhancement of public services. Conversely, administrative costs rose from ₹89,590 crore to ₹97,725 crore, suggesting a deliberate effort to stabilize administrative functions. Key budget allocations include a significant boost in agricultural funding and capital outlay, alongside targeted investments in cultural and regional projects. The budget also highlights challenges such as a persistent fiscal deficit and moderate debt stock. This abstract encapsulates a complex fiscal strategy aiming to balance immediate investments with long-term stability.
Keywords: Fiscal Management, Program Expenditure, Administrative Costs, Socio-Economic Development, Budget Allocation, Fiscal Deficit