Union Budget 2026: Key announcements for Odisha

New Delhi/Bhubaneswar: Finance Minister Nirmala Sitharaman today presented the Union Budget for 2026-27, outlining several initiatives aimed at boosting infrastructure, industry and sustainable tourism in Odisha. The proposals focus on green transport, critical minerals and eco-friendly tourism, with potential long-term benefits for employment and regional development.

National Waterway

A major announcement for Odisha was the plan to operationalise new National Waterways over the next five years. The process will begin with National Waterway-5 in Odisha. The waterway will connect mineral-rich regions such as Talcher and Angul with industrial hubs like Kalinga Nagar, and link them to the ports of Paradeep and Dhamra.

Training institutes will also be developed as Regional Centres of Excellence to prepare skilled manpower for inland water transport. This is expected to create new skills and employment opportunities for youth along the waterway corridor.

"To promote environmentally sustainable movement of cargo, I propose to operationalise 20 new National Waterways (NWs) over the next 5 years, starting with NW-5 in Odisha to connect mineral-rich areas of Talcher and Angul and industrial centres like Kalinga Nagar to the Ports of Paradeep and Dhamra. Training Institutes will be set up as Regional Centres of Excellence for the development of the required manpower. This will benefit youth in the entire stretch of the waterways to train and acquire skills," the Finance Minister said.

Rare Earth Corridors

The Finance Minister also announced support for setting up dedicated Rare Earth Corridors in mineral-rich states. Odisha will be among the beneficiaries, along with Kerala, Andhra Pradesh and Tamil Nadu.

The corridors aim to strengthen mining, processing, research and manufacturing of rare earth materials, which are critical for electronics, renewable energy and advanced technologies. For Odisha, this could attract new investments and strengthen its position in the critical minerals value chain.

"A scheme for Rare Earth Permanent Magnets was launched in November 2025. We now propose to support the mineral-rich States of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated Rare Earth Corridors to promote mining, processing, research and manufacturing," she said.

Turtle Trails

In the tourism sector, the Budget highlighted India’s potential for world-class trekking and hiking experiences. As part of this vision, ecologically sustainable Turtle Trails will be developed along key nesting sites in coastal Odisha, as well as in Karnataka and Kerala.

The initiative is expected to promote eco-tourism while ensuring conservation of sensitive coastal ecosystems. In Odisha, known for its turtle nesting beaches, the project could generate livelihood opportunities for local communities while enhancing conservation awareness.

"India has the potential and opportunity to offer world-class trekking and hiking experiences. We will develop ecologically sustainable Turtle Trails along key nesting sites in the coastal areas of Odisha, Karnataka and Kerala," said Sitharaman.