Odisha CM Unveils Rs 2.90 Lakh Cr Budget, Aiming for Economic Growth and Infrastructure Development
Odisha’s Chief Minister, Mohan Charan Majhi, presented the state’s annual budget for the financial year 2025-26, with an impressive outlay of Rs 2.90 lakh crore. This year’s budget sees a rise compared to the Rs 2.65 lakh crore budget estimate of 2024-25, signalling the state government’s determination to enhance its development prospects across various sectors. Majhi, who also holds the finance portfolio, reiterated his vision of transforming Odisha into a $1.5 trillion economy by 2047, with the goal of fostering equitable economic growth, industrialisation, and urbanisation.
In a significant push towards inclusive development, Majhi outlined his ambitious plan for the state’s future, with the goal of achieving a $500 billion economy by 2036. Termed as “Samruddha Odisha,” the vision aims to create a prosperous and empowered state. The Chief Minister described Samruddha Odisha as not only an economic aspiration but also as a foundation for job creation, industrial growth, and providing equal opportunities to every citizen. This year’s budget highlights the importance of key sectors like agriculture, infrastructure, urban development, and industrialisation, with a particular focus on enhancing the livelihoods of rural communities and boosting urban infrastructure. The total budget for the year will be financed through a combination of revenue receipts, amounting to Rs 2,32,000 crore, and borrowing along with other receipts totalling Rs 58,000 crore. Majhi also expressed confidence in generating a revenue surplus of 3% of the Gross State Domestic Product (GSDP) and maintaining the fiscal deficit at 3.2% of the GSDP.
A notable highlight of the 2025-26 budget is the allocation of Rs 37,838 crore for the agriculture and allied sector, marking a 12% increase from the previous year. The government’s flagship programme, the Samrudha Krushak Yojana, aimed at enhancing farmer welfare, has seen an increase in allocation from Rs 5,000 crore to Rs 6,000 crore. Additionally, the Water Resources Department’s allocation has been raised by 12%, reaching Rs 14,895 crore, underlining the state’s focus on irrigation and water management. In a major step towards boosting infrastructure development, the Odisha government announced the creation of the ‘Highways Authority of Odisha,’ which will function similarly to the National Highways Authority of India (NHAI). This new body is expected to expedite the construction of highways and expressways across the state. The government has set an ambitious target to build 75,000 km of world-class roads by 2029-30, reflecting Odisha’s commitment to improving connectivity and infrastructure.
For urban development, the CM allocated Rs 820 crore for the PM Surya Ghar Yojana, Rs 2,603 crore for the Antyodaya Housing Scheme, and Rs 193 crore for the Gangadhar Meher Education Standard Enhancement Scheme, aimed at providing free bicycles to Class 9 students. These initiatives underline the government’s commitment to improving the quality of life for Odisha’s residents, particularly in rural areas. The budget is crafted to create a sustainable future for Odisha by focusing on key areas that are expected to propel the state towards its growth targets. By making strategic investments in agriculture, infrastructure, and industry, Odisha aims to become a model of inclusive, balanced, and sustainable development. Through these comprehensive budget allocations and strategic reforms, the government of Odisha is paving the way for a future where economic prosperity reaches every corner of the state, ensuring the realisation of a Samruddha Odisha by 2036. As the state government gears up to implement these ambitious projects, citizens are hopeful that these investments will bring long-lasting change to Odisha’s economic landscape.
