Odisha Lift Irrigation Corporation (OLIC) is a Govt. owned Corporation registered under Companies Act .It was set up in the year 1973 by taking over entire funding and offices through rest while Directorate of Lift Irrigation with the aim to avail institutional finance for installation of new L I Projects in the State. Now, OLIC is functioning under the administrative control of the Department. Of Water Resources, Odisha with 7 circles and 28 divisions.

The main objective of OLIC is to explore the maximum possibilities of installation of new LIPs by utilization the surface water and ground water to create additional irrigation potential and strategy for optimum utilization by Pani Panchayat and to impart technical and other essential support to the Pani Panchayat. It aims at setting up projects for creation of irrigation potential in different parts of the State especially areas which are devoid of flow irrigation facilities and to the land of small and marginal farmers as well as weaker sections, for enabling them to grow two or more crop in a year.

After waiving off water tax by Govt of Odisha , OLIC is no more collecting water rate from the cultivators. Accordingly, OLIC has forsworn its commercial activities and functioning like Govt. Organization implementing various irrigation programmes for the State Govt.