Odisha's Rs 3.10 Lakh Crore Budget Boosts Farming, Health & Infrastructure

Majhi, who also holds the Finance portfolio, stated that the Annual Budget aims to accelerate the development of world-class infrastructure, empower youth through skill development initiatives, leverage Artificial Intelligence to enhance productivity, promote diversified and resilient industries, and strengthen inclusive growth by uplifting women and vulnerable sections across the state.

The budget has given special thrust on six strong pillars, which include People First, Rural Empowerment, Prosperity for all, Our Legacy Our Pride, Technology Leading the way, and People Centric governance.

While presenting the budget in the assembly, Majhi proposed an increase in the programme budget to Rs. 1,80,000 crore for 2026-27, which is about 58 per cent of the total budget estimates.

Similarly, the Capital Outlay was Rs. 72,100 crore estimated in this Budget, which is 6.5 per cent of the Gross State Domestic Product (GSDP) and 23.3 per cent of the state budget.

The state government, in a press statement, claimed that the proportion of Capital expenditure in Odisha to the total Budget is the highest among all major States in the country.

The Revenue Surplus is estimated at 3 per cent of GSDP while the fiscal deficit is projected at 3.5 per cent of GSDP, making the Annual Budget, 2026-27, fully FRBM compliant.

This year, a budget of Rs. 42,492 crore has been allocated for the Agriculture and Allied sector in the budget for 2026-27, marking an increase of approximately 12.3 per cent over the previous year.

The allocation for the Agriculture sector includes Rs. 6,088 crore for the landmark "Samrudha Krushaka Yojana," which ensures paddy procurement at a remunerative price of Rs. 3,100 per quintal with enhanced input.

He also announced the creation of a robust revolving fund of Rs. 5,000 crore to enable the prompt disbursal to farmers and strengthen confidence in the procurement system.

Majhi also allocated a total Rs.17855 crore for various old and new initiatives to strengthen the irrigation facilities, flood control & water use efficiency.

The sector-wise allocation in the budget 2026-27 include, Rs.23182 crore for public health care, Rs. 42,565 crore for the Education Sector, Rs. 18,957 crore for various women and child-centric policy and welfare measures, Rs. 25,208 crore for social security measures, Rs.10,738 crore for urban development schemes and projects, Rs. 5,575 crore for the "Viksit Bharat - Employment Guarantee and Livelihood Mission (Gramin)" VB GRAM-G scheme, etc.

The Chief Minister in the budget announced 16 new schemes and initiatives including Jagannath Interpretation Centre at Puri with an estimated cost of Rs.1000 crore and World Tourism Center (WTC) at Puri, Mukhyamantri Kanya Sumangal yojana, under which a savings instrument of Rs.20,000 will be created in the name of a girl from the economically weaker sections, Mukhyamantri Smart City Mission with provision of Rs100 Crore, Odisha AI Mission with provision of 23 Crore, etc.

- IANS