Odisha growth rate surpasses national average: Economic Survey Report

Sambad English Bureau Published On : Jun 28, 2019 at 12:54 PM Updated On : Jun 28, 2019 at 5:12 PM

Bhubaneswar: The real Gross State Domestic Product (GSDP) of Odisha grew at 8.4 per cent in 2018-19 as against 7.4 per cent in the preceding year, said the Odisha Economic Survey report tabled in the state Assembly today.

As per the report, Services Sector has been the largest contributor with 41.6 per cent sharing in the GSDP followed by Industries Sector with contribution of 39.5 per cent.

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Mining Sector has also been a major driver in the state’s economy with 10.8 per cent contribution to the GSDP whereas Manufacturing Sector contributed 18.5 per cent to GSDP.

An analysis of growth over a five year period between Odisha and other states shows that Odisha on an average has grown at a faster rate than states like Haryana, Punjab, Kerala, Chhattisgarh, Madhya Pradesh, Maharashtra and Jharkhand, the report added.

Odisha’s rank on per-capita income also improved from 25th in 1996-97 to 16th in 2016-17. Besides, inflation in 2018-19 was 2.9%, which is lower than all India, implying greater purchasing power, the report further stated.