Rs 425 crore to boost industrial growth in Odisha

The handloom, handicrafts, sericulture and textile sectors have received allocation of Rs 163 crore.

Published: 23rd February 2021 08:31 AM  |   Last Updated: 23rd February 2021 08:31 AM   |  A+A-


Image used for representational purpose only (File Photo)

By Express News Service

BHUBANESWAR: With focus on creating a more favourable industrial climate and ease of doing business along with lending a helping hand to the industries and MSMEs to tide over the pandemic impact, the State government has made a provision of Rs 425 crore in the Budget 2021-22 for development of infrastructure and allied facilities in the sector.

“Odisha is fast emerging as the manufacturing hub of eastern India’. I am proposing an assistance of Rs 155 crore to IDCO for development of quality external infrastructure for the upcoming industrial park and estates, and Rs 50 crore towards equity support,” Finance Minister Niranjan Pujari said.

Apart from the Rs 289 crore special Covid package announced during the pandemic to support the MSMEs, the Minister has made a provision of Rs 465 crore to promote the sector, a jump of 86 per cent over the last year’s allocation.

As land acquisition for industries is an inevitable teething problem, the government has made an outlay of Rs 50 crore to create land bank out of which Rs 20 crore will be utilised for the development of Odisha economic corridor.

The mining sector, the major contributor to the State revenue, has been given Rs 135 crore,  of which Rs 47 crore will be spent on further fine-tuning the i3MS, a widely appreciated IT-based solution for mining operations, while Rs 17 crore has been set aside for mineral exploration.

The handloom, handicrafts, sericulture and textile sectors have received allocation of Rs 163 crore. The mega textile park at Dhamra in Bhadrak district and the mega aluminium park in Angul have received Rs 10 crore and Rs 5 crore respectively.


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