Bhubaneswar: The state capital is set to benefit from the City Economic Regions (CER) initiative announced in Sunday’s Union Budget. As part of the initiative, an allocation of Rs 5,000 crore will be provided to each CER over 5 years for implementing their plans through a challenge mode.Presenting the Budget, Union finance minister Nirmala Sitharaman described cities as India’s engines of growth, innovation and opportunity. She added that the new initiative would focus on Tier II and Tier III cities, as well as temple towns, which require modern infrastructure and improved basic amenities.Bhubaneswar already proved its worth in the Smart City Mission, which was a similar initiative implemented between 2016 and 2025. The city topped the first list of smart cities and received an allocation of Rs 2,072 crore during the implementation period of the scheme.Bhubaneswar underwent significant changes ever since, with the execution of projects such as the smart traffic signalling system, Smart Janpath, the multi-level car parking system, Socially Smart Bhubaneswar, smart parks, and the street vendor improvement programme among others.With the new CER, Bhubaneswar and its nearby regions are expected to accelerate ongoing development. According to experts, the new initiative will also help in the development of the proposed Bhubaneswar Tri City and the ambitious Bhubaneswar-Cuttack-Puri-Paradip Economic Region (BCPPER).Rajat Bokolia, a prominent real estate developer, said that the Budget brings exciting news for real estate, particularly in Tier II cities. “The announcement of Rs 5,000 crore per City Economic Region over 5 years to upgrade urban infrastructure in these growing hubs will add to the momentum,” Bokolia felt.Swapan Mukherjee, chief financial officer of a real estate firm, said the Budget underscores a robust vision for India’s long-term economic growth. “Focus on unlocking opportunities beyond major metros, particularly in eastern states like Odisha, is a welcome move that will catalyse business growth across sectors,” Mukherjee said.
