Union Budget 2026-27 to open new doors for Odisha's development: Pradhan

Bhubaneswar, Feb 7 (PTI) Union Minister Dharmendra Pradhan on Saturday said the Union Budget 2026-27 will help to strengthen a strong foundation for building a 'Viksit Bharat' and would also open new doors for Odisha's development.

The Union Education Minister at a press conference here said that the schemes of 'Purvodaya' aim to develop Odisha as a major focal point of the country's development with special emphasis on the economy of the new era.

"Odisha will extensively benefit through numerous initiatives such as bio-pharma, power, India Semiconductor 2.0, education to employment, development of the 5th national waterway, new rare earth corridor, east coast development corridor and many others," Pradhan said.

Noting that a record number of Rs 10,928 crore has been allocated to Odisha in the Railway Budget, which is about 13 times more than the average grant of 2009-14, Pradhan said the development of National Waterway No 5 from Talcher-Angul to Paradip-Dhamra and the establishment of a new 'Rare Earth Corridor' will take Odisha's industrial and mineral infrastructure to a new level.

He said special emphasis has been given in this budget on the 'New Age Economy'. New technology and proper utilisation of mineral resources will create many new employment opportunities for the youth of the state.

Pradhan said the proposal to develop irrigation will come as a boon for the KBK (undivided Kalahandi-Bolangir-Koraput) districts. "This budget will bring a big change in the lives of about 1.5 million fishermen and tribal brothers and sisters of Odisha," he said.

The union minister said that the reduction in tax on kendu leaf from 5 per cent to 2 per cent will benefit the workers from Sambalpur to Mayurbhanj. Providing special assistance for coconut, cashew and cocoa cultivation in the coastal areas shows the government's commitment to the welfare of the poor and farmers, he claimed.

The fisheries sector will grow by connecting women self-help groups and fishermen organisations with the market through startups. This step will help increase the income of fishermen and further strengthen the blue economy. "It will create new employment opportunities in the coastal areas of Odisha," he said.

This apart, projects like 'Turtle Trails' in places like Gahirmatha on the coast of Odisha will give a new identity to the state's tourism industry and strengthen the economy. "The Narendra Modi government has expressed its commitment in this budget to bring the benefits of development to the people at the bottom of society," he said.

Pradhan said that India has now emerged as the world's fourth-largest economy, and this budget aims to achieve a growth rate of 6.8 per cent to 7.2 per cent for the financial year 2026-27. It will fulfil the aspirations of all sections of society and ensure inclusive growth, he said.

While India's exports were 466.22 billion USD in 2013-14, and today, under the Modi government, it has increased by 77 per cent to 824.9 billion USD. Foreign Direct Investment (FDI) in the country was 36.05 billion USD in 2013-14, which has doubled to 81.04 billion USD. PTI AAM AAM RG