Bhubaneswar, 1st February, 2026 : Shri Pankaj Lochan Mohanty, Chairman of the ASSOCHAM Odisha State Development Council, has welcomed the Union Budget 2026, noting that it provides a powerful reinforcement of both the Odisha Vision 2036 and India Vision 2047. By aligning national fiscal priorities with the states long-term development goals, the budget is seen as a pivotal roadmap for economic resilience. Shri Mohanty emphasized that the strategic allocations will empower a broad spectrum of stakeholders – from industrial giants and MSMEs to local farmers – to participate in a more inclusive and sustainable growth story.
A primary highlight of the budget for the region is the ₹12,200-crore investment dedicated to the comprehensive transformation of National Waterway-5 (NW-5) and NW-64. This project is designed to create a critical logistics corridor linking the mineral-rich zones of Angul and Talcher with the strategic industrial and port hubs of Kalinga Nagar, Paradip, and Dhamra. This infrastructure upgrade is projected to slash logistics costs by as much as 30%, while the establishment of green cargo corridors will ensure that the movement of goods remains environmentally sustainable and economically efficient.
Beyond physical connectivity, the budget positions Odisha as a central player in the global technology supply chain through the ₹40,000-crore electronics mission and the promotion of rare-earth value chains. These initiatives are expected to transform the state into a strategic hub for high-growth industries, including electric vehicles (EVs), renewable energy, defense manufacturing, and semiconductors. By focusing on these specialized sectors, Odisha is poised to attract high-value investments and foster an ecosystem capable of competing on an international stage.
With the national capital expenditure set at ₹12.2 lakh crore and Odisha’s specific allocation rising to ₹64,408 crore, the budget signals a massive fiscal commitment to the state’s future. Shri Mohanty noted that this influx of capital serves as a call to action for the government, entrepreneurs, academia, and startups to collaborate on building AI-enabled manufacturing and resilient infrastructure. This collective effort is intended to steer the state toward a globally competitive and sustainable economy by 2047, ensuring that the benefits of industrialization translate into inclusive livelihoods for all.
