Odisha has constituted a Chief Minister’s Economic Advisory Council, modelled on the EAC-PM, to guide the state toward a $500 billion economy by 2036 and a $1.5 trillion economy by 2047 under its Viksit Odisha framework.

That Odisha is the fifth state to adopt this specific model, a council of outside experts advising the chief executive directly, points to a broader trend of states formalising economic advice outside the regular bureaucratic structure.

Including a figure like Sarvam AI’s co-founder alongside economists and former bureaucrats also signals an attempt to bring technology-sector perspective into state economic planning, not just traditional public finance expertise.

Setting two separate milestones, a nearer-term $500 billion target for 2036 and a longer $1.5 trillion target for 2047, gives the council a staged mandate: interim goals that can be measured well before the full 2047 horizon arrives.

Whether such councils meaningfully shape policy, rather than serving a largely symbolic function, usually depends on how directly their recommendations feed into actual budget and regulatory decisions, a detail that typically only becomes clear well after a council’s formation.

Odisha has set a target of a $500 billion economy by 2036 under its Samruddha Odisha vision.

The state has also set a target of a $1.5 trillion economy by 2047 under its Viksit Odisha framework.

The council’s mandate includes strengthening evidence-based policymaking and providing strategic guidance on long-term development.

Focus areas for the council include MSME expansion, industrial clusters and green energy transitions.

The CM-EAC was formed four months after Odisha announced the State Institute for Transformative Initiatives, or SITI-Odisha.

Odisha is the fifth Indian state to set up a high-level panel of domain experts to support a trillion-dollar economy goal.

Chief Minister Mohan Charan Majhi has described Odisha as poised to become India’s growth engine for the next 25 years.

Stock exchange building (representative image), Wikimedia Commons, CC BY 2.0