Union Budget 2026 corporate-driven, not people-centric: Srikanth Jena

Bhubaneswar, Feb : Senior Congress leader and former Union Minister Srikanth Jena on Sunday sharply criticised the Union Budget 2026–27, alleging that it reflects a corporate-driven mindset rather than a people-centric vision.

Addressing mediapersons, Jena said the budget fails to address the growing economic inequality in the country and continues to neglect vulnerable sections of society as well as resource-rich states like Odisha.

“Odisha is not asking for favours; it is demanding fairness,” Jena asserted. “A state that powers the nation with its minerals and contributes substantially to economic growth deserves proportionate investment in infrastructure, industries and employment opportunities.”

Reacting to the budget proposals, Jena said the widening gap between the rich and the poor remains largely unaddressed, while the poorest and most marginalised sections, many of whom have faced years of neglect, have received little meaningful relief.

He also expressed concern over persistent regional imbalances and questioned whether inclusive growth is truly being treated as a national priority. Highlighting Odisha’s situation, Jena said the neglect of the state is evident as the budget does not include a single major development project dedicated to it.

Instead, he alleged that most proposals appear focused on facilitating the extraction of Odisha’s natural resources for the benefit of other regions. Referring to the proposed National Waterway linking Talcher and Angul to major ports, Jena said the project seems aimed at faster mineral evacuation rather than balanced regional development.

Such initiatives, he warned, would leave Odisha burdened with pollution and environmental degradation without ensuring its rightful mineral dues or the establishment of downstream industries that could generate employment for local youth.

Jena further pointed out that despite a national push for textile and manufacturing growth, Odisha has been overlooked. Establishing at least two major textile parks in the state could have significantly boosted employment, but the budget offered no special attention in this regard, he said.

He also noted that Odisha, despite being among the highest contributors to railway freight revenue, has been ignored in the proposed seven high-speed rail corridors. Crucial routes such as Bhubaneswar–Kolkata and Bhubaneswar–Visakhapatnam have been left out.

Calling the trend deeply concerning, Jena said that while Odisha’s resources continue to be exploited, the state’s development has not been made a priority in the Union Budget.