The Union Budget 2026, which was presented by finance minister Nirmala Sitharaman on Sunday (a first in India’s Budget history), has some exciting announcements for Odisha, which could be a turning point for Odisha’s economic rise, feel experts. The major announcements are: Dedicated Rare Earth Corridor for Odisha: The Union Budget has proposed the establishment of dedicated rare earth corridors in Odisha, along with three other states such as Andhra Pradesh, Tamil Nadu and Kerala. Sitharaman said the Centre would “support mineral-rich states to promote mining, processing, research and manufacturing of rare earth elements and permanent magnets”, which are crucial…
Author: P Das
Union Finance Minister Nirmala Sitharaman will present the Union Budget 2026 on February 1. Ahead of the Budget, let’s decode some of the key terms/ budget jargons that the Finance Minister will use in her Budget speech. The Union Budget 2026 will be crucial in shaping public spending as well as revenue. Appropriation Bill: Introduced in Parliament, Appropriation Bill is a bill that requires approval of government expenditure for the financial year. It becomes law after getting Parliament’s approval. Allocation: It is the money set aside for spending. The way we set aside a chunk of our money on certain…
Union Finance Minister Nirmala Sitharaman will present the 15th Budget of the Narendra Modi- led NDA government on February 1. This year’s Budget will be a milestone for Sitharaman as she will be presenting the annual financial statement a record ninth time in a row. Interestingly, this is the first time the Union Budget will be introduced in the Lok Sabha on a non-working day (Sunday). Nirmala Sitharaman, who became India’s first full-time woman Finance Minister in July 2019, presented her first Budget the same year. Since then, she has delivered seven full Budgets. In 2024, she presented an interim…
Odisha and Assam have overtaken West Bengal in per capita income. Yes, you heard it right. According to a working paper by the Economic Advisory Council to the Prime Minister (EAC-PM), released sometime back, Odisha, which till recently was grouped with eastern India’s lagging economies, has steadily moved ahead of Eastern region’s largest economy (West Bengal) through economic expansion, particularly income growth, industrial expansion and post-pandemic momentum. This shift, which marks a structural change, is apparent in per capita income. A comparative analysis based on 2011-12 data suggested that West Bengal was far ahead of both Odisha and Assam in…
In a major boost to Odisha’s tourism sector, the state government recently approved the Odisha Tourism (Amendment) Policy-2026(OTP), a major reform initiative aimed at strengthening the tourism sector and aligning it with the State’s Vision 2036 and 2047. According to officials, the amendment to the OTP-2022 focuses on attracting investment, promoting sustainable tourism, and ensuring balanced regional development. The major amendments include lowering the minimum investment threshold for 3-Star and above hotels and resorts from 50 rooms to 10 rooms. The move will make it easier for entrepreneurs and investors to expand the hospitality sector, especially in regions with high…
In a significant move, the Labour Ministry has proposed a 90-day annual work threshold as the mandatory eligibility criteria for gig and platform workers to access social security under new draft rules on the Social Security Code 2020, published on December 31, 2025. For workers engaged with multiple aggregators, the threshold has been proposed at 120 days. According to the new rules, a worker will be treated as an employee from the day he/she starts earning an income, regardless of the amount. Besides, if a worker is associated with multiple aggregators, his/her days of work will be counted cumulatively across…
The Government of India in its latest report released recently, announced that India’s economy is projected to expand at a better-than-expected 7.4% in FY26, compared with a 6.5% rise in FY25. According to the first advanced estimates of Gross Domestic Product (GDP) released by the National Statistics Office (NSO), the growth will not only be higher than the 6.5% growth in the previous financial year, but the nominal GDP is also expected to rise by 8.0% in FY 2025-26. The report further stated that while tertiary sectors such as Financial, Real Estate and Professional Services along with Public Administration, Defence…
After assuming office in 2024, the BJP government under the leadership of Mohan Charan Majhi allocated Rs 408 crore to develop Bhubaneswar, the capital of Odisha, into an IT hub. The intention was loud and clear: attract IT giants to the fast-developing two-tier city and transform it into a Silicon city of the East. The government also announced a satellite city within Bhubaneswar. Taking inspiration from Hyderabad, this proposed plan, spanning around 322 hectares of land with an additional investment of Rs 1,110 crore, is expected to give a major boost to the capital’s infrastructure in different sectors with a…
In the wake of recent US attacks on Venezuela, which is being interpreted as a plea to control the oil reserve of the South American country, experts have highlighted the significance of how natural resources play a vital role in the power hegemony that can shift the balance in today’s volatile geopolitical order. In the backdrop of this international development, India’s focus on tapping Odisha’s vast mineral resources assumes strategic significance, which is far beyond regional development. Often referred to as the ‘mineral hub of India’, Odisha has a vast reservoir of mineral resources. Apart from being the largest producer…