As per Odisha Economic Survey 2016-17, the State has registered a Gross State Domestic Product (GSDP) growth rate of 7.94% in 2016-17 fiscal as against the national average of 7.1%. The report was tabled by Finance Minister Pradip Kumar Amat in the Assembly.
The per capita income of Odisha increased from Rs 57,616 in 2015-16 to Rs 61,678 in 2016-17 registering a growth of 7%. Over the same period, India’s per capita income grew 6.5% from Rs 77,524 to Rs 81,805.
According to the report, while Haryana is on the top of the per capita income (PCI) list with Rs 1,24,092, Bihar stands at the bottom with Rs 26,736. The size of the State’s economy increased by 22.27% in real terms during the last six years exhibiting an annual average growths rate of 6.66%.
“The growth rate picks up momentum with industries and services sectors as drivers of growth. Agriculture sector loses its importance in terms of contribution to State’s income while still retaining its prime status as the livelihood provider to maximum numbers of families,” the report said.
The size of the GSDP has reached Rs 3.14 lakh crore in 2016-17 with industries contributing 36.56%. The share of agriculture rose to 19.91% in 2016-17 from 18.68% in 2015-16.
The share from the manufacturing sector declined from 19.19% in 2015-16 to 18.27% in 2016-17. The gross value added in manufacturing stood at Rs 63,695 crore with iron and steel and non-ferrous metals contributing 72% of this value.
On poverty reduction, the report said about 82 lakh poor people moved up from below poverty lines in eight years. The poverty in Odisha has declined by 24.61 percentage point (average annual decline of 3.52 percentage points) from 57.2% in 2004-05 to 32.59% in 2011-12, the highest reduction among major states.