Odisha is charting an ambitious path towards economic transformation, with the goal of becoming “Samruddha Odisha” by 2036. Presenting the state budget for 2025-26, Chief Minister Mohan Charan Majhi emphasized his government’s vision of a $500 billion economy, with a strong focus on infrastructure, agriculture, industrialization, and urban development. With an outlay of ₹2.9 lakh crore, this budget lays the foundation for long-term growth, positioning Odisha as a key driver in India’s Viksit Bharat @2047 mission.
Odisha’s Economic Vision: Towards a $1.5 Trillion Economy
CM Majhi, who also holds the finance portfolio, reiterated Odisha’s aspiration to become a $1.5 trillion economy by 2047. He underlined that “Samruddhi” is not just about economic expansion but also about job creation, inclusive development, and equitable opportunities for all citizens. To turn this vision into reality, the government is investing heavily in capital expenditure, irrigation, urbanization, port-led growth, and industrial development.
Major Budget Highlights
The ₹2.9 lakh crore budget for 2025-26 reflects a significant increase from last year’s estimate of ₹2.65 lakh crore. The government plans to finance this outlay primarily through ₹2.32 lakh crore in revenue receipts and ₹58,000 crore in borrowing and other receipts. Odisha is also expected to maintain a revenue surplus of 3% of GSDP, keeping the fiscal deficit at 3.2% in compliance with Fiscal Responsibility and Budget Management (FRBM) norms.
Key allocations in the budget include:
· ₹1.7 lakh crore for program expenditure (59% of the total budget)
· ₹65,012 crore for capital outlay (6.1% of GSDP, among the highest in India)
· ₹37,838 crore for agriculture and allied sectors (12% increase from last year)
· ₹6,000 crore for the flagship Samruddha Krushak Yojana (up from ₹5,000 crore)
· ₹14,895 crore for water resources (12% increase from ₹13,272 crore last year)
Infrastructure: Building the Future of Odisha
A key highlight of the budget is the creation of the ‘Highways Authority of Odisha’, modelled after the National Highways Authority of India (NHAI). This autonomous body aims to expedite highway and expressway projects, with a target of constructing 75,000 km of world-class roads by 2029-30. The government is also crafting a progressive road policy to enhance connectivity and boost industrial corridors.
Additionally, CM Majhi announced significant allocations for urban and housing development:
· ₹820 crore for the PM Surya Ghar Yojana to promote solar energy adoption.
· ₹2,603 crore for the Antyodaya Housing Scheme, ensuring affordable homes for all.
· ₹193 crore under the Gangadhar Meher Education Standard Enhancement Scheme to provide free bicycles to Class 9 students.
Industrial Growth and Investment in Key Sectors
Odisha is reinforcing its position as an industrial hub, with a focus on port-led development and manufacturing. The government has committed significant capital investment to modernize existing industries, attract new investments, and expand exports.
A substantial portion of the budget is also directed towards agriculture and irrigation, recognizing the sector’s role in ensuring food security and employment for millions. The Samruddha Krushak Yojana will enhance farmer welfare, while increased funds for irrigation will support sustainable agricultural growth.
With a strong vision for economic expansion, infrastructure development, and social welfare, Odisha is making bold strides toward its Samruddha Odisha 2036 goal. The 2025-26 budget lays a solid foundation for long-term prosperity, ensuring that growth is inclusive and sustainable. As the state continues on this path, it is poised to emerge as a powerhouse in India’s economic transformation, contributing significantly to Viksit Bharat @2047.
(With inputs from agencies)
