Bhubaneswar, February 21: Odisha Chief Minister Mohan Charan Majhi presented the annual budget for the fiscal year 2026-27 on Friday, amounting to ₹3.10 lakh crore. The budget emphasizes infrastructure, agriculture, tourism, and irrigation sectors.
Majhi, who also oversees the finance department, stated that the budget aims to accelerate the development of world-class infrastructure, empower youth through skill development initiatives, leverage artificial intelligence to boost productivity, promote diverse and robust industries, and foster inclusive growth by uplifting women and marginalized communities across the state.
The budget highlights six key pillars: People First, Rural Empowerment, Prosperity for All, Our Heritage Our Pride, Technology First, and People-Centric Governance.
While presenting the budget in the assembly, Majhi proposed increasing the program budget for 2026-27 to ₹1.80 lakh crore, which constitutes approximately 58% of the total budget estimate.
Additionally, the capital outlay is estimated at ₹72,100 crore, accounting for 6.5% of the Gross State Domestic Product (GSDP) and 23.3% of the state budget.
The state government claimed in a press release that the capital expenditure share in Odisha’s total budget is the highest among all major states in the country.
The revenue surplus is estimated at 3% of the GSDP, while the fiscal deficit is projected to be 3.5% of the GSDP, ensuring that the annual budget for 2026-27 fully complies with the Fiscal Responsibility and Budget Management (FRBM) Act.
This year, the budget allocates ₹42,492 crore for agriculture and related sectors, marking an increase of approximately 12.3% compared to the previous year.
Included in this allocation is ₹6,088 crore for the ‘Prosperous Farmer Scheme,’ which guarantees a good price of ₹3,100 per quintal for paddy, accounting for increased costs.
Majhi also announced the establishment of a robust revolving fund of ₹100 crore. An allocation of ₹5,000 crore is designated to provide immediate financial assistance to farmers and strengthen trust in the procurement system.
To enhance irrigation facilities, flood control, and efficient water usage, a total of ₹17,855 crore has been allocated for various old and new initiatives.
The 2026-27 budget includes sector-wise allocations such as ₹23,182 crore for public healthcare, ₹42,565 crore for education, ₹18,957 crore for various policies and welfare measures focused on women and children, ₹25,208 crore for social security measures, ₹10,738 crore for urban development plans and projects, and ₹5,575 crore for the ‘Developed India – Employment Guarantee and Livelihood Mission (Rural)’.
The Chief Minister announced 16 new schemes and initiatives, including the Jagannath Interpretation Center in Puri, estimated to cost ₹1,000 crore, and the World Tourism Center (WTC) in Puri. Other initiatives include the Chief Minister’s Kanya Sumangal Scheme, which will create a savings instrument of ₹20,000 in the name of economically weaker girls, the Chief Minister’s Smart City Mission with a provision of ₹100 crore, and the Odisha AI Mission with a provision of ₹23 crore.
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