Odisha CM presents ambitious Rs 2.65 lakh crore Budget for 2024-25

Bhubaneswar: Chief Minister Mohan Charan Majhi on Thursday presented the BJP government’s first state budget of Rs 2.65 lakh crore for the financial year 2024-25 in the Odisha Assembly. This represents a 15% increase from the 2023-24 budget, which was Rs 2.3 lakh crore.

The 2024-25 budget will primarily be financed through revenue receipts of Rs 2.11 lakh crore, with the remaining Rs 54,000 crore coming from borrowing and other receipts. The fiscal deficit is projected to be 3.5% of the Gross State Domestic Product (GSDP).

Key allocations include:

• Agriculture: Increased to Rs 33,919 crore from Rs 24,829 crore last year.
• Samrudha Krushak Yojana: A new scheme for farmers with a proposed outlay of Rs 5000 crore, where the government will procure paddy at Rs 3100 per quintal.
• CM Kisan: A new scheme replacing the previous BJD government’s KALIA Yojana, with an outlay of Rs 1935 crore.
• SUBHADRA Yojana: Rs 10,000 crore allocated for women’s empowerment.
• Gopabandhu Jana Arogya Yojana (GJAY): Formerly Biju Swasthya Kalyan Yojana, with Rs 5450 crore allocated, plus Rs 500 crore for Ayushman Bharat scheme implementation.
• Shree Anna Abhiyan: Rs 649 crore allocated, renaming the Aahaar scheme.

New initiatives include:

• Surendra Sai Divya Drushti Yojana: For universal free eye care.
• Jagannath Temple Corpus Fund: Rs 500 crore proposed.
• Bhubaneswar Metro Rail Project: Rs 1000 crore proposed.
• Madho Singh Haath Kharcha: To curb school dropouts, offering Rs 5000 annually to ST students entering grades 9 and 11.

The “Make in Odisha” investment summit will be rebranded as “Utkarsha Utkal”, aiming to attract over Rs 2.5 lakh crore in domestic investment and USD 2 billion in foreign direct investment by 2029.

Social security pensions for senior citizens over 80 and individuals with 80% disabilities will be increased, with Rs 4,487 crore proposed under the Madhubabu Pension Yojana. Additionally, Rs 200 crore is earmarked to revive ‘Odia Asmita’ and promote Odisha’s art, literature, culture, and heritage.

A new “FDI Park in State Capital Region” scheme is proposed with a Rs 20 crore budget to develop Odisha as a manufacturing hub, focusing on the automobile, EV, semiconductor, and IT/ITES industries.

Finally, plans for a Film City include a proposed Rs 20 crore under the scheme for the redevelopment of Kalinga Studio Ltd.