#Odisha’s economic growth continues to surpass National GDP growth; state’s economic growth at 7.14%

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Bhubaneswar: Odisha’s economic growth continues to surpass National GDP growth. The Odisha Economic Survey 2017-18 records state’s economic growth at 7.14%, higher than nation’s growth of 6.5%; vindicates our consistent policy that aids inclusive growth in the State.

Odisha Economic Survey 2017-18” report tabled by the Finance Minister Shashi Bhusan Behera at the State Assembly here on Thursday estimated. The per capita income at base year price of the state in terms of Gross State Domestic Product (GSDP) is estimated to be Rs 77,193 in 2017-18, which experienced a 6.06 per cent rise from Rs 72,780 in 2016-17, the survey report said.

In terms of the size, GSDP at 2011-12 prices stood at Rs 2.30 lakh crore in 2011-12 and increased to Rs 3.23 lakh thousand crore in 2016-17.

The service sector as a leading contributor to GSDP has contributed 38.54 per cent in 2011-12 which increases tremendously to 45.22 per cent in 2017-18 and surpasses agriculture and industry sector over years, it stated.

The sector exhibited an accelerated growth rate of 10.7 per cent in 2016-17 and is estimated to grow at 12.4 per cent in 2017-18, it added.

The mining, manufacturing and construction sectors were estimated to grow moderately at 4.6 per cent, while electricity, water supply and other utility services sub-sector is expected to clock a growth rate of 9.6 per cent, the report said.

The survey report further said there was a need for continued policy priority for agriculture, especially in its allied sectors, in view of the high employment potential and favourable agro-climatic conditions.

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