Bhubaneswar, April 1: Despite a walkout by opposition legislators, the Odisha Assembly successfully passed the Appropriation Bill for the financial year 2026-27 on Tuesday.
With the passage of this bill, the government has been granted legal authority to withdraw and utilize a budget allocation of ₹3.10 lakh crore from the state’s consolidated fund for the fiscal year 2026-27.
During the discussion on the bill, Chief Minister Majhi highlighted that the total budget estimate for the fiscal year 2026-27 is ₹3.10 lakh crore, representing an increase of approximately 7 percent compared to the previous year’s budget. He also noted that the proposed program expenditure amounts to ₹1.80 lakh crore, which constitutes 58 percent of the total budget.
The estimated capital expenditure is ₹72,100 crore, accounting for 6.5 percent of the Gross State Domestic Product (GSDP)—the highest among major states in the country—reflecting the quality of expenditure.
Chief Minister Majhi stated that the annual budget presented by the government for 2026-27 is a significant step towards fulfilling the aspirations of the poor, youth, farmers, and women, while promoting the social, economic, and overall development of the state’s 4.5 crore population.
He further emphasized that while many states struggle with heavy debt and rising interest payments, Odisha continues to make steady progress on the path of development.
Ensuring full compliance with the Fiscal Responsibility and Budget Management (FRBM) Act, Majhi reported that the state’s debt-to-GDP ratio stands at 14.1 percent, well below the 25 percent limit set by the FRBM Act.
Similarly, Odisha’s interest payment-to-revenue receipts ratio is 3.3 percent, significantly lower than the 15 percent threshold. The Chief Minister stressed that Odisha’s fiscal deficit is estimated to be around 3.5 percent of GDP.
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My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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