Laxmi Narayan College is one of the established higher-education institutions in Jharsuguda district. Located in Jharsuguda town, the college contributes to the educational development of students from the town as well as surrounding rural and semi-urban areas. The institution provides an academic environment focused on higher education, student development and overall personality development. It has an important role in supporting access to undergraduate education within the district and serves students from different communities and backgrounds.

The college is also recognized by the Odisha Higher Education Department as an aided college in Jharsuguda. Its location within the district headquarters makes it accessible to students from different parts of Jharsuguda and nearby areas.