Dikhyaa Mohanty 
Odisha Chief Minister Mohan Charan Majhi unveiled the state budget on Monday, allocating Rs 2,90,000 crore for the fiscal year 2025–2026 with a particular emphasis on the industrial sector, infrastructure development, urbanization, and agriculture. In contrast to the budgeted forecast of Rs 2.65 lakh crore for the fiscal year 2024–2025, the budget for the current fiscal year, 2025–2026, has been set at Rs 2.90 lakh crore.
CM Majhi, who also holds the finance portfolio, asserted that Odisha is aspiring to become a $1.5 trillion economy by 2047 and a growth engine for Viksit Bharat @2047. He noted that Odisha is aiming to become Samruddha Odisha by 2036, with $500 billion economy. He also said that his government laid the foundation for the vision of Samruddha Odisha 2036 with the annual budget for the financial year 2025-26. “We are laying the foundation for Samruddha Odisha 2036 — a vision of a prosperous and empowered Odisha. For us, Samruddhi is more than just economic growth; it signifies job creation, inclusive development, and equitable opportunities for every citizen,” said Majhi.
With a focus on transformational areas including infrastructure, urban development, agriculture and irrigation, capital investment, port-led growth, industrialization, and sports for everyone, he said the current budget has been carefully prepared to make this vision a reality.
CM Majhi suggested using Rs 2,32,000 crore in tax revenues, Rs 58,000 crore in borrowing, and other sources to primarily finance the Rs 2,90,000 crore budget spend. Additionally, the chief minister expressed confidence that the government would be able to produce a revenue surplus of around 3% of GSDP and that the budget deficit for 2025–2026 will be kept to 3.2% of GSDP.
He went on to say that the yearly budget for the fiscal year 2025–2026 will comply with FRBM. For the fiscal year 2025–2026, the program budget has been set at Rs 1,70,000 crore, or almost 59% of the overall budget estimates. In a similar vein, the budget’s anticipated capital expenditure of Rs 65,012 crore represents 6.1% of the Gross State Domestic Product (GSDP), ranking among the highest of among the nation’s major states.
