The present invention is related to an integrated process for enhancing the yields of propylene and other light olefins from Fluid catalytic cracking (FCC) process in combination with Oxidative propane dehydrogenation (OPDH) where in a hydrocarbon stream from Propylene recovery section consisting of propane predominantly, is converted to high value light olefins primarily C3 and C2 olefins by catalytic oxidative dehydrogenation using carbon dioxide from FCC flue gas exiting the regenerator. Several process configurations for the conversion of C3 and C4 alkanes to their respective alkenes separately or simultaneously by integrating with FCC are provided.