Odisha’s growth rate dips, per capita income increases

Bhubaneswar: Odisha’s growth rate is expected to decline to 6.16% of GSDP in 2019-20 as against 7.90% in 2018-19, the Economic Survey Report tabled in the Legislative Assembly today said.

Lower agriculture production being affected by cyclone and deceleration in mining and manufacturing led to the dip in the growth rate, the report said.

However, per-capita income in Odisha in 2019-20 is expected to reach Rs 1,01,587 from Rs 95,164 in 2018-19. As per advance estimate, 2019-20, the state’s per-capita net domestic product at current price is estimated to grow at 6.75%. During the same period, the per capita net national income is estimated at Rs 1,35,050 making an increase of 6.84% as compared to Rs 1,26,406 during 2018-19.

The report further said that Services sector is the largest contributor to Odisha’s GVA with 40.51% followed by Industries sector with 39.60% and Agriculture & allied sector with 19.90% in 2019-20(AE). During the same period, Agriculture & allied sector is expected to achieve growth at constant price (2011-12) of 7.61%, while Industries sector will attain growth of 4.88% and Services sector with 6.84%.

The average annual inflation in Odisha based on CPI remained stable between 2% and 3% during 2017-18 to 2018-19 and increased to 3.8% in 2019-20 (till December). While inflation in rural Odisha was mainly driven by miscellaneous groups followed food items and fuel & light, inflation in urban Odisha was influenced by miscellaneous groups followed by housing and food items, the report stated.

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