The accident occurred at Sisu Mandir Square in Bhuban in Kamakhyanagar sub-division.
The injured were admitted to Bhuban Hospital, of which two were later shifted to SCB Medical College and Hospital at Cuttack, Dhenkanal Superintendent of Police Basant Panigrahy said.
He said the bus driver had taken a diversion through a field due to a traffic snarl on the main road after an accident.
The bus, moving to Kamakhsyanagar from Cuttack, came in contact with an 11-kV overhead sagging wire, said police.
Around 45 persons were travelling in the bus.
Both the driver and conductor were absconding, police said.
Chief Minister Naveen Patnaik announced Rs 2 lakh compensation to each of the bereaved families and free treatment to the injured.
"It is very tragic," the Chief Minister said.
Energy Minister Pranab Prakash Das directed authorities to probe the matter.
Odisha Power Transmission Corporation Limited will give Rs 5 lakh to the kin of each deceased, said the minister.
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