Bhubaneswar: Chief Minister Mohan Charan Majhi has officially welcomed the Union Budget 2026–27, placing particular emphasis on the newly announced dedicated rare earth corridors. This initiative is designed to support mineral-rich states, including Odisha, Andhra Pradesh, Tamil Nadu, and Kerala, in developing a complete domestic value chain for critical minerals.
During her budget presentation, Finance Minister Nirmala Sitharaman explained that these corridors will integrate mining, processing, research, and manufacturing. This move expands upon the 7,280 crore rupee rare earth permanent magnet scheme launched in November 2025, which aimed to establish an annual manufacturing capacity of 6,000 metric tonnes. By creating these physical corridors, the government intends to secure the raw materials necessary for high-tech industries such as electric vehicles, wind turbines, semiconductors, and defense systems.
Chief Minister Shri Majhi noted on X that the central support will unlock significant opportunities for Odisha’s mineral sector and strengthen its industrial growth. He highlighted that the state’s vast mineral wealth makes it a natural hub for these corridors, which will also facilitate investments in semiconductor and advanced manufacturing industries.
Beyond the rare earth corridors, the Chief Minister pointed out other budget highlights beneficial to the region. This includes the operationalization of National Waterway-5, which will link the mineral hubs of Talcher and Angul to the industrial clusters of Kalinganagar and the ports at Paradeep and Dhamra. Additionally, the budget introduced wildlife tourism initiatives, such as turtle trails at Gahirmatha Beach and the Rushikulya River, aimed at promoting eco-friendly tourism and creating local livelihoods.