Bhubaneswar, February 7 Union Minister Dharmendra Pradhan said on Saturday that the Union Budget for 2026-27 will help build a strong foundation for creating a "Developed India" and would also open new avenues for the development of Odisha.
The Union Minister of Education, at a press conference here, said that the "Purvodaya" schemes aim to develop Odisha as a major focal point of the country's development, with particular emphasis on the economy of the new era.
"Odisha will greatly benefit from numerous initiatives such as bio-pharma, power, India Semiconductor 2.0, education to employment, the development of the 5th national waterway, a new rare earth corridor, and the east coast development corridor, among others," Pradhan said.
Noting that a record allocation of Rs 10,928 crore has been made for Odisha in the Railway Budget, which is about 13 times more than the average allocation of 2009-14, Pradhan said that the development of National Waterway No 5 from Talcher-Angul to Paradip-Dhamra and the establishment of a new "Rare Earth Corridor" will take Odisha's industrial and mineral infrastructure to a new level.
He said that special emphasis has been given in this budget on the "New Age Economy". New technology and the proper utilization of mineral resources will create many new employment opportunities for the youth of the state.
Pradhan said that the proposal to develop irrigation will be a boon for the KBK (formerly undivided Kalahandi-Bolangir-Koraput) districts. "This budget will bring significant changes in the lives of about 1.5 million fishermen and tribal brothers and sisters of Odisha," he said.
The union minister said that the reduction in tax on kendu leaves from 5 per cent to 2 per cent will benefit workers from Sambalpur to Mayurbhanj. Providing special assistance for coconut, cashew, and cocoa cultivation in coastal areas shows the government's commitment to the welfare of the poor and farmers, he claimed.
The fisheries sector will grow by connecting women self-help groups and fishermen organizations with the market through startups. This step will help increase the income of fishermen and further strengthen the blue economy. "It will create new employment opportunities in the coastal areas of Odisha," he said.
Besides this, projects like "Turtle Trails" in places like Gahirmatha on the coast of Odisha will give a new identity to the state's tourism industry and strengthen the economy. "The Narendra Modi government has expressed its commitment in this budget to bring the benefits of development to the people at the bottom of society," he said.
Pradhan said that India has now emerged as the world's fourth-largest economy, and this budget aims to achieve a growth rate of 6.8 per cent to 7.2 per cent for the financial year 2026-27. It will fulfill the aspirations of all sections of society and ensure inclusive growth, he said.
While India's exports were 466.22 billion USD in 2013-14, and today, under the Modi government, it has increased by 77 per cent to 824.9 billion USD. Foreign Direct Investment (FDI) in the country was 36.05 billion USD in 2013-14, which has doubled to 81.04 billion USD.