Odisha govt set to present first budget under BJP leadership, speculation rife over fiscal strategies

The government of Odisha is all set to present its inaugural full annual budget under the BJP (Bharatiya Janata Party) administration on Monday. This budget comes after eight months of BJP governance, and there is widespread anticipation regarding the fiscal strategies that will be unveiled by Chief Minister Mohan Majhi’s administration.

As per sources, the budget will aim to bolster Odisha’s economy by prioritising its traditionally strong mining sector, alongside agriculture, rural development, and tourism. There is a keen interest from farmers, women, and young people to see how their needs will be addressed.

Key questions remain as to which sectors will receive priority. Observers are speculating whether education, healthcare, or infrastructure will benefit from increased funding. Additionally, there is curiosity about any new initiatives aimed at supporting women, the economically disadvantaged, and farmers.

The budget is expected to be around Rs 3 lakh crore, setting a framework to propel Odisha towards achieving its developmental goals by 2036. Efforts are likely to focus on youth engagement, women’s empowerment, farmers’ support, and advancements in rural development, with probable investments also in education, health, and transportation.

It is anticipated that some flagship projects may receive boosted funding. Furthermore, new programmes may be in the pipeline to empower the farmers, tying back to electoral promises. Measures to compensate victims of chit fund scams may also be considered.

Considering Odisha’s vibrant economic landscape, Subhadra Yojana may influence budget allocations. Major chunks of the budget could be allocated to schemes like a hike of Rs 800 support per quintal of paddy as Minimum Support Price (MSP), Antyodaya Gruha Yojana, Viksit Gaon Viksit Odisha, Gopabandhu Jan Arogya Yojana, Ayushman Yojana, pension programmes, stadiums in each blocks, 58 new cold storage facilities and the revitalisation of over 100 cold storage facilities.

Political debates have already commenced around the forthcoming budget. The BJD (Biju Janata Dal) emphasises the need for prolonged planning over transient electoral tactics. 

While the Congress is vocal about fulfilling the administration’s commitments, the BJP remains optimistic about outlining a visionary pathway for Odisha’s progress.

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“If the government will not focus prolonged planning over transient electoral tactics in the budget, it will have a bad impact in the economy. The government should prepare such a budget that will take our economy forward,” said senior BJD leader Prasanna Acharya.

“We are expecting that the double engine government will present a budget that will fulfill all their electoral promises,” said Congress leader Rama Chandra Kadam.

“The budget will accelerate the economic growth. There will be many new schemes about employment, economic development, industrialization and infrastructure in the budget,” said Law Minister Prithviraj Harichandan.

Meanwhile, economists are highlighting the importance of long-term strategies for economic growth. 

“Boosting investments in agriculture and rural sectors must be given importance in the budget as a way to enhance purchasing power within the population. There may be a significant focus on micro, small and medium enterprises (MSMEs), traditional industries, agricultural sectors, and food processing units,” said economist Rajiv Sahu.