Odisha CM Presents ₹2.90 Lakh Crore Budget with Special Focus on Agriculture and Infrastructure Development.

Odisha Chief Minister Mohan Charan Majhi on Monday presented the state’s budget for the financial year 2025-26, pegged at ₹2.90 lakh crore, with a strong emphasis on agriculture, infrastructure, urbanization, and industrial development.

The new budget marks a significant increase from the ₹2.65 lakh crore estimate for the 2024-25 fiscal. CM Majhi, who also holds the finance portfolio, highlighted the state’s ambition to become a $1.5 trillion economy by 2047 and a major growth engine for a "Viksit Bharat." He stated that Odisha is working toward becoming a $500 billion economy by 2036, a goal rooted in the vision of "Samruddha Odisha."

“This budget lays the foundation for Samruddha Odisha 2036—a vision of a prosperous, empowered state,” said Majhi. “For us, Samruddhi means more than just economic growth; it signifies job creation, inclusive development, and equitable opportunities for all.”

The Chief Minister outlined a plan for funding the ₹2.90 lakh crore budget, with ₹2.32 lakh crore expected from revenue receipts and ₹58,000 crore from borrowings and other receipts. He expressed confidence that the government will achieve a 3% revenue surplus relative to the GSDP and limit the fiscal deficit to 3.2% for the upcoming year. The budget will be FRBM-compliant, with a program budget of ₹1.70 lakh crore, approximately 59% of the total estimate. The capital outlay is ₹65,012 crore, about 6.1% of the GSDP, one of the highest among major states.

A key focus of the budget is agriculture, with ₹37,838 crore allocated to the sector, marking a 12% increase from the previous year. The allocation for the flagship Samrudha Krushak Yojana has been raised to ₹6,000 crore, up from ₹5,000 crore. Additionally, the budget boosts funding for the Water Resources Department by about 12%, with ₹14,895 crore allocated.

In a significant move to improve infrastructure, the Chief Minister announced the creation of the ‘Highways Authority of Odisha,’ modeled after the National Highways Authority of India (NHAI), to expedite highway and expressway projects. The state aims to build 75,000 km of world-class roads by 2029-30 under a progressive road policy.

Further allocations include ₹820 crore for the PM Surya Ghar Yojana, ₹2,603 crore for the Antyodaya Housing Scheme, and ₹193 crore for the Gangadhar Meher Education Standard Enhancement Scheme, which will provide free bicycles for Class 9 students.

ET