Odisha Chief Minister Mohan Charan Majhi unveiled the annual state budget for the 2026-27 fiscal year, amounting to Rs 3.10 lakh crores. The budget prioritizes infrastructure, agriculture, tourism, and irrigation sectors, aiming to boost development and empower various segments of society.
The budget speech highlighted key focus areas, including enhancing infrastructure, skill development for youth, leveraging Artificial Intelligence, supporting industries, and promoting inclusive growth. It emphasized six pillars: People First, Rural Empowerment, Prosperity for all, Our Legacy Our Pride, Technology Leading the way, and People Centric governance.
In a significant move, the proposed program budget for 2026-27 stands at Rs. 1,80,000 crore, representing a substantial portion of the total budget estimates. Additionally, the Capital Outlay for this fiscal year is estimated at Rs. 72,100 crore, accounting for a notable percentage of the Gross State Domestic Product (GSDP) and the state budget.
The state government highlighted that Odisha’s Capital expenditure proportion in the total Budget surpasses that of other major states in the country. The budget forecasts a Revenue Surplus of 3% of GSDP and a fiscal deficit of 3.5% of GSDP, ensuring compliance with the Fiscal Responsibility and Budget Management (FRBM) guidelines.
Allocations in the budget for 2026-27 include Rs. 42,492 crore for the Agriculture and Allied sector, with a focus on initiatives like the “Samrudha Krushaka Yojana” for paddy procurement. The budget also allocates funds for strengthening irrigation facilities, flood control, and social welfare measures across various sectors.
