Union Budget 2024-25 boosts Odisha with major allocations for agriculture, housing, tribal development, youth empowerment, and tourism.
Bhubaneswar, Odisha : In a move poised to significantly impact Odisha's economic landscape, the Union Finance Minister Nirmala Sitharaman unveiled the full budget for the fiscal year 2024-25. This budget, characterized by its development-oriented and visionary approach, places a strong emphasis on 4 key demographics highlighted by the Prime Minister: the poor, women, youth, and farmers.
Focus on Agriculture and Skill Development
The budget outlines substantial allocations aimed at boosting agricultural productivity and skill development. The agriculture sector is set to receive ₹1.52 lakh crore, reflecting the government’s commitment to enhancing farming efficiency and output. Additionally, ₹3 lakh crore has been earmarked for women-centric schemes, underscoring a dedicated effort to foster the holistic development of women across the country.
Massive Housing Initiative to Benefit Odisha
One of the standout features of the budget is the ambitious housing initiative, targeting the construction of 30 million new homes in both rural and urban areas over the next five years. This initiative, coupled with increased funding under the Prime Minister's Housing Scheme, is expected to provide significant relief and support to the people of Odisha, addressing a critical need for affordable housing.
Tribal Development Takes Center Stage
In a groundbreaking move, the central government has announced the Prime Minister's Tribal Development Village Campaign, aimed at improving the social and economic conditions of tribal communities. This new scheme will cover 63,000 villages and benefit approximately 50 million tribal individuals. The campaign is set to bring about notable improvements for the tribal population in Odisha, enhancing their quality of life and access to resources.
Youth Empowerment through Skill Development
Recognizing the importance of empowering the younger generation, the budget allocates ₹2 lakh crore over the next five years for skill development and the creation of opportunities for 41 million young men and women. This substantial investment is expected to have a particularly positive impact on the youth of Odisha, providing them with the skills and opportunities needed to thrive in a competitive job market.
Enhanced Capital Investment for Economic Growth
The total capital investment in the Union Budget has been increased to ₹11.11 lakh crore, a strategic move aimed at driving national growth. Additionally, the assistance amount for state capital expenditure has been increased to ₹1.50 lakh crore. For Odisha, this translates to an estimated ₹1,000 crore in additional assistance, a much-needed boost that was strongly advocated during pre-budget discussions with the Union Finance Minister.
Special Focus on Tourism Development
The central government’s commitment to Odisha's tourism sector is evident with the announcement of separate assistance in the budget. Odisha's inclusion in the standalone Purvodaya Scheme highlights a focused approach to boosting capital investment and industrial development in the region. This move is expected to enhance Odisha's appeal as a tourist destination and stimulate economic growth through increased tourism revenue.
The Union Budget 2024-25 presents a comprehensive and forward-thinking plan that addresses critical areas of need for Odisha. From substantial investments in agriculture and skill development to ambitious housing projects and targeted support for tribal and youth populations, the budget sets the stage for significant advancements in the state's socio-economic landscape. As these initiatives unfold, Odisha stands to benefit immensely, driving progress and prosperity for its citizens.
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