Budget sets new benchmark for capital spending, growth: CM | Bhubaneswar News
Bhubaneswar: CM Mohan Charan Majhi on Saturday highlighted Odisha’s remarkable achievement in capital expenditure and outlined ambitious plans for industrial growth, positioning the state as the future industrial hub of eastern India.
While replying to the budget discussion in the assembly, Majhi said the state’s capital expenditure for 2025-26 stands at Rs 65,012 crore, representing 6.1% of the GSDP — the highest among major states in India.
“While some states struggle to spend Rs 500 crore monthly on capital expenditure, Odisha is capable of investing over Rs 5,000 crore per month,” Majhi emphasised.
He said he had watched an interview of Telangana CM Revanth Reddy expressing difficulties in spending Rs 500 crore on capital expenditure every month.
The CM announced that the recent ‘Make in Odisha Conclave 2025‘ attracted 593 investment proposals worth around Rs 16.73 lakh crore, potentially creating 13 lakh jobs. “I promise that within the next five years, Odisha will become the industrial capital of eastern India,” Majhi said.
Govt’s commitment to industrial development is reflected in its plan to transform every district into an industrial area. Recently, about 40 medium and large industrial establishments received clearance, with more in the pipeline, he said.
The budget, totalling Rs 2.90 lakh crore, maintains strong fiscal discipline with the deficit limited to Rs 34,200 crore (3.21% of GSDP). The CM stressed that it represents healthy economic management, positioning Odisha as a model state for financial prudence.
To support industrial growth, significant allocations have been made for infrastructure development, including the establishment of Odisha State Highway Authority and plans for constructing 75,000 km of world-class roads by 2029-30.
“The govt has also proposed Rs 408 crore to develop various economic regions, including Bhubaneswar-Cuttack-Puri and Sambalpur-Jharsuguda-Bargarh corridors,” he said.
“This budget is not just an income-expenditure account; it’s a well-thought-out roadmap to propel Odisha on the path of rapid development,” Majhi said.
While replying to the budget discussion in the assembly, Majhi said the state’s capital expenditure for 2025-26 stands at Rs 65,012 crore, representing 6.1% of the GSDP — the highest among major states in India.
“While some states struggle to spend Rs 500 crore monthly on capital expenditure, Odisha is capable of investing over Rs 5,000 crore per month,” Majhi emphasised.
He said he had watched an interview of Telangana CM Revanth Reddy expressing difficulties in spending Rs 500 crore on capital expenditure every month.
The CM announced that the recent ‘Make in Odisha Conclave 2025‘ attracted 593 investment proposals worth around Rs 16.73 lakh crore, potentially creating 13 lakh jobs. “I promise that within the next five years, Odisha will become the industrial capital of eastern India,” Majhi said.
Govt’s commitment to industrial development is reflected in its plan to transform every district into an industrial area. Recently, about 40 medium and large industrial establishments received clearance, with more in the pipeline, he said.
The budget, totalling Rs 2.90 lakh crore, maintains strong fiscal discipline with the deficit limited to Rs 34,200 crore (3.21% of GSDP). The CM stressed that it represents healthy economic management, positioning Odisha as a model state for financial prudence.
To support industrial growth, significant allocations have been made for infrastructure development, including the establishment of Odisha State Highway Authority and plans for constructing 75,000 km of world-class roads by 2029-30.
“The govt has also proposed Rs 408 crore to develop various economic regions, including Bhubaneswar-Cuttack-Puri and Sambalpur-Jharsuguda-Bargarh corridors,” he said.
“This budget is not just an income-expenditure account; it’s a well-thought-out roadmap to propel Odisha on the path of rapid development,” Majhi said.
