+
Odisha Cabinet Approves Rs 6.1 Billion Urban Development, Boosts Biotech
ECONOMY & POLICY

Odisha Cabinet Approves Rs 6.1 Billion Urban Development, Boosts Biotech

The Odisha Cabinet on Friday approved four key proposals, including a Rs 6.1 billion allocation for the Mukhyamantri Sahari Bikash Yojana urban development scheme, aimed at upgrading city infrastructure and creating employment across urban areas in the state.

Chaired by Chief Minister Mohan Charan Majhi, the Cabinet sanctioned the major urban infrastructure plan along with a Rs 1.11 billion initiative to promote biotechnology and life sciences over five years, positioning Odisha as a biotech hub in eastern India.

In addition, the Cabinet waived a land premium of over Rs 26 million for the Narcotics Control Bureau (NCB), facilitating faster expansion of its regional operations on 0.64 acres at Chandrasekharpur, Bhubaneswar.

The irrigation sector also saw approval for the Chheligada Irrigation Project, budgeted at Rs 1.51 billion. This project includes building a concrete dam and a single-way canal system to provide assured irrigation to 6,260 hectares of farmland.

These decisions reflect Odisha’s multi-sectoral strategy to drive economic growth, enhance urban living standards, and strengthen infrastructure across the state.

Major Boost for Biotechnology
The Cabinet endorsed an umbrella biotechnology scheme comprising 17 sub-programmes, underscoring the sector’s priority status in Odisha’s 2022 Industrial Policy Resolution. This scheme aims to foster skilled workforce development, research, innovation, and state-of-the-art infrastructure, with targeted incentives for industries, start-ups, and incubators.

Collaboration between industry, academia, and research institutions will be promoted to harness biotechnology’s potential in agriculture, medicine, industry, and environmental applications.

The Odisha Biotechnology Policy 2024 will further incentivise infrastructure development for product and service innovation, aiming to transform Odisha into a knowledge-driven bio-economy that significantly contributes to the state’s economic growth.

Objectives of the Biotechnology Development Scheme
1. Promote higher education, research, and infrastructure in promising biotechnology fields.
2. Strengthen a vibrant ecosystem for innovation, incubation, investment, income, and impact to build industries.
3. Align academic excellence, skilling, and capacity building with industry needs.
4. Encourage product development, commercialisation, and intellectual property monetisation.
5. Leverage breakthrough innovations for Odisha’s socio-economic development.

These approvals mark a significant stride in Odisha’s ambition to become a modern, industrially advanced state with robust urban infrastructure and a thriving biotech sector.

The Odisha Cabinet on Friday approved four key proposals, including a Rs 6.1 billion allocation for the Mukhyamantri Sahari Bikash Yojana urban development scheme, aimed at upgrading city infrastructure and creating employment across urban areas in the state.Chaired by Chief Minister Mohan Charan Majhi, the Cabinet sanctioned the major urban infrastructure plan along with a Rs 1.11 billion initiative to promote biotechnology and life sciences over five years, positioning Odisha as a biotech hub in eastern India.In addition, the Cabinet waived a land premium of over Rs 26 million for the Narcotics Control Bureau (NCB), facilitating faster expansion of its regional operations on 0.64 acres at Chandrasekharpur, Bhubaneswar.The irrigation sector also saw approval for the Chheligada Irrigation Project, budgeted at Rs 1.51 billion. This project includes building a concrete dam and a single-way canal system to provide assured irrigation to 6,260 hectares of farmland.These decisions reflect Odisha’s multi-sectoral strategy to drive economic growth, enhance urban living standards, and strengthen infrastructure across the state.Major Boost for BiotechnologyThe Cabinet endorsed an umbrella biotechnology scheme comprising 17 sub-programmes, underscoring the sector’s priority status in Odisha’s 2022 Industrial Policy Resolution. This scheme aims to foster skilled workforce development, research, innovation, and state-of-the-art infrastructure, with targeted incentives for industries, start-ups, and incubators.Collaboration between industry, academia, and research institutions will be promoted to harness biotechnology’s potential in agriculture, medicine, industry, and environmental applications.The Odisha Biotechnology Policy 2024 will further incentivise infrastructure development for product and service innovation, aiming to transform Odisha into a knowledge-driven bio-economy that significantly contributes to the state’s economic growth.Objectives of the Biotechnology Development Scheme1. Promote higher education, research, and infrastructure in promising biotechnology fields.2. Strengthen a vibrant ecosystem for innovation, incubation, investment, income, and impact to build industries.3. Align academic excellence, skilling, and capacity building with industry needs.4. Encourage product development, commercialisation, and intellectual property monetisation.5. Leverage breakthrough innovations for Odisha’s socio-economic development.These approvals mark a significant stride in Odisha’s ambition to become a modern, industrially advanced state with robust urban infrastructure and a thriving biotech sector.

Next Story
Infrastructure Urban

REC honoured with ‘Best Design Thinking Award’ at DNA Awards 2025

REC, a Maharatna NBFC under the Ministry of Power, has received the ‘Best Design Thinking Award’ at the 5th Distinguished NBFC Awards (DNA Awards) hosted by Banking Frontiers.The award acknowledges REC’s digital initiatives in Retail Bonds, highlighting the company’s efforts to leverage technology and design thinking to improve customer experience and service delivery.Jitendra Srivastava, CMD, REC, congratulated the finance team for their commitment and contribution towards driving innovation. Harsh Baweja, Director (Finance), along with senior officials, joined in celebrating the reco..

Next Story
Infrastructure Urban

How India’s Logistics Sector Becoming Smarter, Faster, and Fairer

India’s logistics system, once criticized for being slow and fragmented, is now showing signs of a genuine turnaround. Policy reforms, new infrastructure, and rapid adoption of technology are changing the way goods move across the country. Officials argue the impact will be felt not just in lower costs, but in faster operations and more equitable opportunities for small businesses.Smarter: Digital Innovation Taking HoldThe biggest shift has been digital. Artificial Intelligence (AI), Machine Learning (ML), IoT and block chain are no longer buzzwords, they are now being used on the ground. Fl..

Next Story
Infrastructure Urban

Hindustan Zinc Charts Multi-metal Future as Cornerstone of 2x Growth Strategy

Hindustan Zinc, a Vedanta Group company and the world’s largest integrated zinc producer, has announced a bold transformation agenda – Hindustan Zinc 2.0 – to evolve from a zinc-and-silver leader into a diversified, multi-metal enterprise powering India’s future growth.Addressing shareholders at the company’s 59th Annual General Meeting, Chairperson Priya Agarwal Hebbar said, “Hindustan Zinc is moving beyond its zinc and silver legacy to become a multi-metal, future-ready enterprise. As demand for critical minerals grows across clean energy, digital infrastructure, and national sec..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?