Odisha Chief Minister Unveils Rs 2.90 Lakh Crore Budget; Emphasis on Agriculture and Infrastructure
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Synopsis
On February 17, Odisha's Chief Minister Mohan Charan Majhi unveiled a substantial budget of Rs 2.90 lakh crore for the fiscal year 2025-26, prioritizing agriculture, infrastructure, urban development, and the industrial sector to foster economic growth and development.
Key Takeaways
- Budget outlay of Rs 2.90 lakh crore for 2025-26.
- Focus on agriculture, infrastructure, urbanization, and industry.
- Odisha aims for a $1.5 trillion economy by 2047.
- Allocation for agriculture sector increased by 12%.
- New Highways Authority established to enhance road infrastructure.
Bhubaneswar, Feb 17 (NationPress) The Chief Minister of Odisha, Mohan Charan Majhi, presented a state budget on Monday with a total outlay of Rs 2,90,000 crore for the fiscal year 2025-26. This budget emphasizes key areas such as agriculture, infrastructure development, urbanization, and the industry sector.
The budget size for 2025-26 has been set at Rs 2.90 lakh crore, a notable increase from the Rs 2.65 lakh crore estimated for the 2024-25 fiscal year.
CM Majhi, who also oversees the finance portfolio, highlighted Odisha's ambition to evolve into a $1.5 trillion economy by 2047, positioning itself as a growth engine for Viksit Bharat @2047. He emphasized that Odisha aims to achieve a Samruddha Odisha by 2036, targeting a $500 billion economy.
He further remarked that the current budget lays the groundwork for the Samruddha Odisha 2036 vision. “Our aim is not just economic growth; it embodies job creation, inclusive development, and equal opportunities for all citizens,” stated Majhi.
The budget has been carefully designed to actualize this vision, with a strong focus on transformative sectors such as infrastructure, urban development, agriculture, irrigation, capital investment, port-led development, industrialization, and inclusive sports.
To finance the Rs 2,90,000 crore budget, the Chief Minister proposed to utilize revenue receipts of Rs 2,32,000 crore along with borrowings and other receipts totaling Rs 58,000 crore. He expressed confidence in achieving a revenue surplus of around 3 percent of GSDP and limiting the fiscal deficit to 3.2 percent of GSDP for 2025-26.
Additionally, the budget for 2025-26 will comply with the FRBM norms. The program budget is estimated at Rs 1,70,000 crore, accounting for approximately 59 percent of the total budget estimates. The capital outlay for this budget stands at Rs 65,012 crore, representing 6.1 percent of the Gross State Domestic Product (GSDP), which is among the highest in major states across the country.
CM Majhi allocated Rs 37,838 crore to the agriculture and allied sectors for 2025-26, marking a 12 percent increase from the previous year. The allocation for the flagship Samrudha Krushak Yojana has been raised to Rs 6000 crore, up from Rs 5000 crore.
Moreover, the allocation for the Water Resources Department has increased from Rs 13,272 crore in 2024-25 to Rs 14,895 crore in 2025-26, also reflecting a 12 percent rise.
In a significant move, CM Majhi announced the establishment of an autonomous body, the Highways Authority of Odisha, modeled after the National Highways Authority of India (NHAI), aimed at accelerating highway and expressway projects within the state. The government has set a goal to construct 75,000 km of world-class roads by 2029-30, implementing a progressive road policy.
Additionally, the Chief Minister allocated Rs 820 crore for the PM Surya Ghar Yojana, Rs 2,603 crore for the Antyodaya Housing Scheme, and Rs 193 crore under the Gangadhar Meher Education Standard Enhancement Scheme to provide free bicycles to Class 9 students.
