Union Budget 2026–27 Opens New Avenues For Odisha’s Development: Dharmendra Pradhan

Addressing a press conference here alongside Odisha state unit BJP president Manmohan Samal, Mr Pradhan described the Budget as being guided by Prime Minister Narendra Modi’s mantra of “Sabka Saath, Sabka Vikas,” stating that it seeks to fulfill the aspirations of all sections of society while giving special thrust to education, agriculture, tourism and infrastructure. Odisha BJP president Manmohan Samal was also present at the briefing.

Mr Pradhan said India has emerged as the world’s fourth-largest economy and the Budget has set an ambitious GDP growth target of 6.8 to 7.2 per cent for the 2026–27 financial year. “This Budget ensures inclusive growth while maintaining macroeconomic stability, with inflation under control and strong fundamentals across sectors,” he said.

Highlighting India’s economic trajectory, the Union minister said exports have risen by 77 per cent from $466.22 billion in 2013–14 to $824.9 billion under the Modi government, while foreign direct investment has more than doubled from $36.05 billion to $81.04 billion. India’s GDP, he added, has grown nearly threefold since 2014–15, and foreign exchange reserves have touched historic highs. GST collections have doubled from Rs 11 lakh crore in 2020 to Rs 22 lakh crore, and India now hosts the world’s third-largest startup ecosystem.

Mr Pradhan said the Budget lays special emphasis on future-ready sectors, with initiatives such as the Rs 10,000-crore “BioPharma Shakti” programme and the Rs 40,000-crore India Semiconductor Mission 2.0. A Rs 10,000-crore growth fund has been proposed to strengthen the MSME sector, while a dedicated committee has been envisaged to bridge education, employment and entrepreneurship for youth.

Key education-focused measures include setting up AVGC (animation, visual effects, gaming and comics) labs in 15,000 schools and 500 colleges, hostels for girls pursuing STEM education in every district, and a reduction in the TCS rate on foreign remittances for education and medical purposes from 5 per cent to 2 per cent.

The Budget has increased capital expenditure on infrastructure from Rs 11 lakh crore to Rs 12.2 lakh crore, announced seven high-speed rail corridors, and proposed a National Institute of Hospitality to boost tourism. Three new All India Institutes of Ayurveda will also be established.

Mr Pradhan said Odisha is among the leading beneficiaries of the Budget under the Centre’s Purvodaya vision for eastern India. The state has received a record Rs 10,928 crore in railway allocation—nearly 13 times higher than the average allocation during 2009–14—which is expected to significantly accelerate rail infrastructure projects.

He said the development of National Waterway-5 along the Brahmani and Mahanadi rivers, connecting Talcher–Angul to Paradip and Dhamra ports, along with the proposed Rare Earth Corridor, would take Odisha’s industrial and mineral-based economy to a new level. The East Coast Development Corridor, he added, would create large-scale employment opportunities.

The Budget is also expected to bring major relief to nearly 15 lakh kendu leaf workers and tribal communities in Odisha, with the tax on kendu leaf reduced from 5 per cent to 2 per cent. Special support for coconut, cashew and cocoa cultivation in coastal districts, strengthening fisheries and women self-help groups through market linkages, and promoting the blue economy are among the other key measures.

Eco-tourism projects such as “Turtle Trails” at sites like Gahirmatha are expected to give Odisha’s tourism sector a global identity while generating livelihoods in coastal areas.

“The Union Budget reflects the Modi government’s commitment to ensuring that the benefits of development reach the last person in the queue,” Mr Pradhan said, adding that Odisha’s youth would gain significantly from new-age technologies, skill development and infrastructure-led growth.