Odisha Economy

CM Majhi sets 85% expenditure target for Odisha in 2024-25 fiscal year

Odisha Chief Minister Mohan Charan Majhi has set a target of spending 85 per cent of the budget estimates for 2024-25 fiscal against an expenditure of 81 per cent achieved in 2023-24, an official statement said. Majhi, who also holds the Finance portfolio, set this target while reviewing the expenditure of different departments on Thursday. Though the expenditure was affected due to the elections, government transition, and budget presentation in September, Majhi said spending was apparently satisfactory. "To meet the target, Majhi advised ministers to approve expenditure proposals and clear pending payments under welfare schemes", the statement issued by the CMO said. Stating that Odisha's 6.1 per cent allocation of its Gross Domestic Product (GSDP) to capital expenditure is the highest in the country, the chief minister said programme expenditure and capital expenditure were crucial for the overall growth. The statement said the expenditure was good in the departments of ...

UP, Gujarat, Odisha continue fiscal consolidation despite populist schemes

Uttar Pradesh, Gujarat, and Odisha budgets maintain revenue surpluses despite welfare schemes, while Rajasthan and West Bengal face high debt, fiscal deficits, and low capital outlay

Odisha's economy estimated to grow by 7.2% in FY25: State survey

Odisha's economy is estimated to grow by 7.2 per cent in the current financial year, which is higher than the all-India growth rate of 6.4 per cent, according to the state economic survey report for the 2024-25 fiscal. The report, which was laid before the state assembly on Saturday evening, stated that the size of Odisha's economy proxied by GSDP at current prices is estimated to be at Rs 9.5 lakh crore in 2024-25 which has increased by 10 per cent from Rs 8.6 lakh crore in the 2023-24 fiscal. All the sectors have shown robust growth in the financial year 2024-25 and the state is poised for rapid growth in the years ahead. Higher capital investment and investment intent received through Utkarsh Odisha would further increase growth rate in the state in future, an official statement highlighting the key points of the report said. Similarly, the per capita income has increased by 10.6 per cent to reach Rs 1,82,548 in 2024-25 (advance estimate) while per capita income at all-India leve

Odisha CM Majhi disburses Rs 900 cr to 1.8 mn women under Subhadra scheme

Odisha Chief Minister Mohan Charan Majhi on Saturday disbursed Rs 5,000 each to over 18 lakh women beneficiaries under Subhadra Yojana in the 4th phase of the first instalment in the state. Accompanied by Deputy Chief Minister Pravati Parida and Health Minister Mukesh Mahaling, Majhi disbursed about Rs 900 crore through direct bank transfer (DBT) system at a function held in Jajpur district. With this, a total of over 98 lakh women have received Rs 5,000 each under the Subhadra Yojana launched by the BJP government in Odisha. Fulfilling the promise, the people's government has provided direct assistance to the beneficiaries through DBT, which has played a significant role in strengthening their financial condition, he said. The chief minister said this scheme is fulfilling the hopes and aspirations of the mother power of the state and is helping to build a prosperous Odisha. I believe that all the beneficiaries can empower themselves and strengthen their economic status through sm

Odisha asks Rs 12.59 trn from Finance Commission, 50% divisible pool share

The Odisha government on Thursday requested Rs 12.59 lakh crore from the 16th Finance Commission and sought an increase in the state's share of the central divisible pool to 50 per cent from the current 41 per cent. Chief Minister Mohan Charan Majhi made the request during a meeting with the Finance Commission team, led by Chairman Aravind Panagariya, emphasising that the demand was crucial for the state's development, particularly as it aims to become one of the country's developed states by 2036, marking its centenary. Addressing a press conference, Panagariya said many states including Odisha have demanded increasing their share to 50 per cent from the central divisible pool. The 16th Finance Commission is mandated to submit its report with the President of India in October 2025 and make its recommendation after visiting 28 states and taking views of all the stakeholders. "The commission has visited several states and held consultations. Maximum states demanded an increase in the

Odisha's green economy may generate 1 mn new jobs by 2030: CEEW study

The study, titled "How a Green Economy Can Deliver Jobs, Growth and sustainability in Odisha," calculates the jobs, market, and investment opportunities across these 28 value chains

Odisha looks beyond temple tourism, sets eyes on destination weddings

Looking beyond temple tourism and Buddhist circuits, the Odisha government is now eying to promote the state for destination weddings and MICE (meetings, incentives, conferences, exhibitions) tourism. The state has a lot to offer when it comes to the tourism sector. It has a long coastline, beautiful temples, wildlife, natural beauty, ecotourism destinations, waterfalls, mountains, lakes, and dams. Domestic tourists visit these sites around the year, an officer said. As the state seeks to evolve beyond its traditional offerings, it is positioning itself to become a premier hub for high-profile weddings and business events, rivalling the likes of Rajasthan's royal cities, Goa and Kerala, the officer from the state tourism department said. The department has decided to promote popular beach towns such as Puri and Konark in Puri district and Gopalpur in Ganjam district as sites for destination weddings, big meetings and conferences, tourism director Samarth Verma told PTI. "These plac

Odisha to set up industrial park for women entrepreneurs, says CM Majhi

Odisha Chief Minister Mohan Charan Majhi on Wednesday said an industrial park exclusively for women entrepreneurs would be set up in the state. Attending the plenary session on women entrepreneurship enabled by 'Subhadra' on the second day of the 'Utkarsh Odisha, Make in Odisha Conclave, 2025' here on Wednesday, Majhi said a special cell for women entrepreneurs will also be opened at the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL). "I want to make two announcements to promote women in entrepreneurship. First, the government has decided to open an industrial park exclusively for women and the second is opening of a special cell for women at IPICOL," Majhi said. The CM said that he was hopeful that these two measures will encourage women to start business independently. He also sought suggestions from women business leaders on how to further raise women's participation in business. The session prepares a roadmap to shape the future of 'Subhadra' industr

Adani Group commits Rs 2.3 trillion investment in Odisha over next 5 years

Adani Group on Tuesday committed to investing Rs 2.3 lakh crore over the next five years across power, cement, industrial parks, aluminium and city gas expansion in Odisha. According to a statement by the group, the investment commitment was made during Utkarsh Odisha 2025 - the state's investor meeting. Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ), met state Chief Minister Mohan Charan Majgi and exchanged MoUs for investment in Odisha over the next five years, it added. "The Adani Group committed to invest Rs 2.3 lakh crore over the next five years across power, cement, industrial parks, aluminium, city Gas etc," the statement said. It, however, did not give details. "This is the biggest investment intent by any group in Utkarsh Odisha 2025." Also, the first test flight landed at Dhamra Airstrip successfully on Tuesday. Additionally, on the occasion of Utkarsh Odisha, six projects of ATGL in Odisha were commissioned. These include an EV charging station

Jindal Steel and Power to invest an additional Rs 70,000 crore in Odisha

Jindal Steel & Power on Tuesday said it will invest an additional Rs 70,000 crore in Odisha in the coming years. The announcement was made by the company's Chairman Naveen Jindal during the Utkarsh Odisha-Make In Odisha Conclave' here. Our vision is to make Odisha a global industrial leader, while improving the quality of life for its people consistently. This additional Rs 70,000-crore investment will not only drive industrial growth, but also uplift the quality of life of thousands of families in Odisha, Jindal said. He also said the company was exploring the possibility of setting up a steel plant in Keonjhar district to fulfill the vision of Chief Minister Mohan Charan Majhi, he said. Jindal Steel & Power operates India's first coal gasification plant for steel production in Angul, with focus on reducing dependence on imported coking coal. The company's Angul plant, currently at 6-MTPA capacity, will double to 12 MTPA this year and is set to reach 25.2 MTPA by 2030, ...

PM to inaugurate Utkarsh Odisha-Make in conclave, 38th National Games today

Prime Minister will inaugurate programmes in Odisha at around 11 am at Janata Maidan in Bhubaneswar

Odisha set for golden period of industrial, infra development: CM Majhi

Odisha Chief Minister Mohan Charan Majhi on Sunday said the state is set for an industrial revolution and a golden period for infrastructure development. Majhi said the 'double engine' government will ensure 'double development' of the state. "I firmly believe that with the joint efforts of the Central government and the state government, the next 5 years will be the golden age of infrastructure development for Odisha. There is no doubt that the double engine governments will double the development of Odisha," the CM said while addressing the gathering after unfurling the National flag in Cuttack on the occasion of the 76th Republic Day. Noting that the recent visit of the Singapore President to Odisha and the signing of eight MoUs with the state government is a vivid example towards a big change in the industrial sector, the CM said: "Our government is committed to using the precious mineral resources of the state instead of exporting them and bringing about industrial revolution i

Glad that Odisha emerged at top in fiscal health in NITI report: Patnaik

With Odisha emerging as a top performing 'achiever' among the states listed in NITI Aayog's first Fiscal Health Index (FHI) report for 2022-2023, BJD president and former chief minister Naveen Patnaik on Saturday said it is heartening to see the state in the number one position from financial bankruptcy. Chief Minister Mohan Majhi also lauded the state's achievement. In a post on X, he said, "Odisha tops the ranking in fiscal health among 18 major states in the country. With a cumulative score of 67.8 Odisha excels at the top followed by Chhattisgarh and Goa. As per the Niti Aayog report, the achiever states display strong fiscal health, excelling in revenue mobilisation, expenditure management, and debt sustainability." However, Patnaik was "glad" as the achievement came during his tenure as the chief minister of Odisha. "Glad to share that #Odisha has emerged the No-1 state in fiscal management across the country with highest overall fiscal health score of 67.8% in 2022-23, as per

Our goal is to make Odisha prosperous state by 2036, says CM Majhi

He emphasised that the state government is fully committed to achieving these objectives

Odisha, Singapore sign MoU to establish FinTech hub in Bhubaneswar

The Government of Odisha's Electronics and IT Department and Singapore's Global Finance & Technology Network (GFTN) signed an MoU to establish a Global Competency Centre in Bhubaneshwar to foster FinTech collaboration, with a focus on developing an inclusive and sustainable InsureTech and related areas.The MoU was signed during the official visit of Singapore President Tharman Shanmugaratnam to Odisha on Friday, according to a press release by GFTN. Tharman is on the State Visit to India from January 14 to 18. The initiative marks another positive step commemorating the 60th anniversary of diplomatic relations between India and Singapore in 2025.Commenting on the MoU, Chief Minister Mohan Charan Majhi said, Odisha aims to leverage GFTN's global expertise and resources to drive innovation and create tailored Fintech solutions in the state."Odisha has emerged as a leader in India's IT sector and now aims to diversify its services sector. The state is fostering innovation and ...

Odisha to sign eight MoUs during Singapore President's two-day visit

Singapore President Tharman Shanmugaratnam is scheduled to visit Odisha for two days starting Friday, during which at least eight MoUs will be signed between the island country and the coastal state. The Singapore President's visit is coming to Odisha just days ahead of the business conference 'Utkarsh Odisha: Make-in-Odisha conclave', slated for January 28 and 29. Accompanied by a high-level delegation, including ministers, MPs, and officials, President Shanmugaratnam will arrive in Bhubaneswar at 11.30 am. Odisha Chief Minister Mohan Charan Majhi, other ministers and senior officials will meet him in a hotel later. In the afternoon, he will attend signing of the MoU seeking to extend cooperation in Technical and Vocational Education and Training (TVET) to further enhance the skill development ecosystem, particularly for the semiconductor industry in the state. Another MoU will be signed between Odisha Industrial Infrastructure Development (IDCO) and Sembcorp, Singapore. For the

We have sanctioned investments of Rs 2.5 trn, says Odisha CM Majhi at PBD

We are organising a Make In Odisha conclave, they are in touch with us that they will invest in Odisha, CM Majhi said

Cognizant CEO discusses development of largest Indian campus with Odisha CM

Cognizant CEO Ravi Kumar S met Odisha Chief Minister Mohan Charan Majhi on Friday to discuss the development of the American IT firm's biggest campus in India in the state, a statement said. At the meeting, Majhi said the state government would allot land in Bhubaneswar city for development of the Cognizant campus and provide all support, it said. "Both discussed on developing Cognizant campus in Bhubaneswar as its biggest centre in India," it added. Ravi Kumar S, who is of Odisha origin, was in Bhubaneswar to attend the 18th Pravasi Bharatiya Divas convention. He expressed happiness over the growth of the firm's existing centre in Bhubaneswar, and exuded confidence that it would grow further in the next five years, the statement said. The CM sought his cooperation for bringing more investments in the IT sector in Odisha, and he assured all help, it said. Majhi congratulated him for his success and the Pravasi Bhartiya Samman being conferred on him.

Double-engine govt a 'double blow': Patnaik slams BJP over price rise

Patnaik criticised the BJP governments at both the state and Centre. He accused them of failing to control the sharp increase in the prices of essential commodities

Upcoming rail lines will enhance connectivity to Simlipal reserve: Vaishnaw

The laying of foundation stones for three rail lines in Odisha's Mayurbhanj district by President Droupadi Murmu will enhance connectivity to the Simlipal forest reserve, besides offering other benefits such as giving a boost to the local economy and development of backward areas, Railway Minister Ashwini Vaishnaw said on Saturday. Murmu laid the foundation stones for the three rail lines -- Bangiriposi-Gorumahisani, Buramara-Chakulia and Badampahar-Kendujhargarh -- at Bangiriposi in Mayurbhanj district on Saturday. Vaishnaw, who attended the ceremony at Bangiriposi, said Simlipal was declared a biosphere reserve by the UNESCO World Network and it is considered among the world's top 50 most sought-after places. "According to Time Magazine, if you have to visit 50 best places in the world, Simlipal is one of those. These three upcoming rail lines will provide easy connectivity for tourists to this place, along with many other cultural and heritage centres," he said. "Besides, these