Odisha Government Approves Massive Rs 3 Lakh Crore Budget Draft for 2026-27 Fiscal Year
In a significant development, the council of ministers in Odisha, chaired by Chief Minister Mohan Charan Majhi, has given its approval to a draft budget proposal exceeding Rs 3 lakh crore for the financial year 2026-27. The approval was granted during a high-level meeting held in Bhubaneswar on Saturday, setting the stage for the upcoming budget session of the state assembly.
Budget Session and Presentation Details
The budget session of the Odisha Legislative Assembly is scheduled to commence on February 17, with Chief Minister Majhi, who also holds the finance portfolio, slated to present the comprehensive state budget on February 20. Chief Secretary Anu Garg has indicated that the specific details of the council's approval will be formally disclosed during the assembly proceedings, ensuring transparency in the budgetary process.
Key Priorities and Allocations
Farmers' Welfare and Women's Empowerment: According to sources, the forthcoming budget will place a strong emphasis on enhancing the welfare of farmers and promoting women's empowerment across the state. These initiatives are expected to receive substantial financial backing to drive inclusive growth and social development.
Bhubaneswar-Cuttack-Puri-Paradip Economic Region (BCPPER): A major highlight of the budget is the allocation for the newly launched BCPPER project. The Central government has committed Rs 1,000 crore annually for five years under the Union Budget to support this ambitious initiative. The state government is anticipated to make parallel allocations to facilitate BCPPER's evolution into a $500 billion economic hub by 2047. Currently valued at $22 billion, the project aims to reach a target of $35-45 billion by the end of the government's current term in 2029.
Employment and Economic Growth Strategies
The budget is poised to catalyze large-scale job creation across multiple sectors, including agriculture, MSMEs, tourism, technology, and green energy. A central component of this employment strategy involves youth skilling and employability programmes designed to align education with industry demands, thereby enhancing workforce readiness and reducing unemployment.
Rural Development and Infrastructure
On the rural front, the budget is expected to focus on several critical areas to boost agricultural productivity and rural livelihoods:
- Improving irrigation coverage to ensure water security for farmers.
- Expanding access to clean water resources.
- Encouraging diversified agriculture to increase income streams.
- Strengthening agro-industry and cold-storage infrastructure to reduce post-harvest losses and enhance market linkages.
Education and Human Capital Development
Substantial allocations are also projected for education and human capital development, with a focus on:
- Strengthening schools and colleges to improve educational outcomes.
- Boosting STEM education for girls to promote gender equality in technical fields.
- Expanding vocational and technical training programmes linked to industry needs to bridge the skills gap.
Tourism and Heritage Initiatives
Tourism, particularly eco-tourism and heritage-focused initiatives, is set to receive renewed attention in the budget. The state aims to expand both domestic and international footfalls by investing in sustainable tourism infrastructure and promoting Odisha's rich cultural heritage.
Additional Approvals: Anandpur Barrage Project
In a related development, a cabinet meeting followed by the council of ministers' session approved three tenders totaling Rs 358 crore for the integrated Anandpur barrage project. The tenders, valued at Rs 146 crore, Rs 107 crore, and Rs 105 crore, are aimed at enhancing irrigation facilities in the Balasore district, further supporting agricultural development in the region.
This comprehensive budget draft underscores the Odisha government's commitment to fostering economic growth, social welfare, and sustainable development across the state, with a clear roadmap for the coming fiscal year.
