Bhubaneswar, Feb 20 (NationPress) The Chief Minister of Odisha, Mohan Charan Majhi, unveiled the annual state budget for the fiscal year 2026-27, amounting to Rs 3.10 lakh crores. This budget places a strong emphasis on vital sectors such as infrastructure, agriculture, tourism, and irrigation.

Majhi, who also oversees the Finance portfolio, mentioned that the objective of this Annual Budget is to expedite the development of top-notch infrastructure, empower the youth through skill development programs, utilize Artificial Intelligence to boost productivity, diversify and strengthen industries, and promote inclusive growth by uplifting women and marginalized communities throughout the state.

The budget is structured around six robust pillars: People First, Rural Empowerment, Prosperity for All, Our Legacy Our Pride, Technology Leading the Way, and People-Centric Governance.

During the assembly presentation, Majhi advocated for an increase in the programme budget to Rs 1,80,000 crore for the fiscal year 2026-27, representing nearly 58 percent of the total budget estimates.

The Capital Outlay for this budget is estimated at Rs 72,100 crore, constituting 6.5 percent of the Gross State Domestic Product (GSDP) and 23.3 percent of the overall state budget.

A statement from the state government claimed that Odisha's proportion of capital expenditure relative to the total budget is the highest compared to all major states in India.

The projected Revenue Surplus is 3 percent of GSDP, and the fiscal deficit is estimated at 3.5 percent of GSDP, ensuring that the Annual Budget for 2026-27 adheres fully to the FRBM framework.

This year, the allocation for the Agriculture and Allied Sector stands at Rs 42,492 crore, reflecting an increase of around 12.3 percent from the previous year.

Included in this allocation is Rs 6,088 crore for the pioneering “Samrudha Krushaka Yojana,” which guarantees paddy procurement at a lucrative price of Rs 3,100 per quintal along with enhanced inputs.

Majhi also disclosed the establishment of a substantial revolving fund worth Rs 5,000 crore to facilitate swift disbursement to farmers, thus reinforcing trust in the procurement system.

Moreover, a total of Rs 17,855 crore has been assigned for various initiatives aimed at enhancing irrigation facilities, flood control, and improving water use efficiency.

Sector-wise allocations in the 2026-27 budget encompass Rs 23,182 crore for public health care, Rs 42,565 crore for education, Rs 18,957 crore for women and child welfare measures, Rs 25,208 crore for social security initiatives, Rs 10,738 crore for urban development projects, and Rs 5,575 crore for the “Viksit Bharat – Employment Guarantee and Livelihood Mission (Gramin)” scheme.

The Chief Minister also introduced 16 new schemes and initiatives, including the Jagannath Interpretation Centre in Puri, estimated to cost Rs 1,000 crore, and the World Tourism Center (WTC) in Puri, along with the Mukhyamantri Kanya Sumangal Yojana, which will establish a savings account of Rs 20,000 for girls from economically weaker backgrounds.

Other initiatives include the Mukhyamantri Smart City Mission with an allocation of Rs 100 crore and the Odisha AI Mission with a budget of Rs 23 crore.