Spending is low, growth has declined: Naveen

Chief Minister Mohan Charan Majhi, who also holds the Finance portfolio, presented a Rs 2.90-lakh crore State Budget for the fiscal year 2025-26 on Monday, with a strong focus on infrastructure, urban development, agriculture, port-led growth, and industrialization.

- STATESMAN NEWS SERVICE

The budget earmarks a capital outlay of Rs 65,012 crore, accounting for 6.11% of the Gross State Domestic Product (GSDP). Odisha's capital expenditure as a percentage of the total budget remains the highest among all major states in the country.

Key allocations include Rs 37,838 crore for agriculture and allied sectors, reflecting a 12% increase from the previous year. The budget projects a revenue surplus of 3% of GSDP, while the fiscal deficit is estimated at 3.2%, with year-end debt stock projected at 12.7% of GSDP.

The Chief Minister unveiled several new initiatives like Kukhyamantri Kanya Bibaha Yojana-Financial support for community marriages of underprivileged girls. Jagannath Darshan Yojana- a pilgrimage scheme for the poor, Samrudha Sahar - An urban transformation program.