Odisha’s growth betters national average, 82 lakh people cross BPL

Highlights

• Per capita income reached Rs 61,678 in 2016-17
• 82 lakh poor people moved up from below poverty lines in eight years

Bhubaneswar: Odisha has registered a gross state domestic product (GSDP) growth rate of 7.94 per cent in 2016-17 against the national average of 7.1 per cent, said the Odisha Economic Survey-2016-17, which was placed in the state Assembly on Saturday.

The major highlight of accelerated growth was the modest pick up in the agriculture production due to improved monsoon.

Odisha’s per capita income

The real per capita income of Odisha increased from Rs 47,632 in 2011-12 to Rs 61,678 in 2016-17 at 2011-12 prices, the report said.

The report said that the per capita income reached Rs 61,678 in 2016-17 against Rs 57,616 during 2015-16. It accounted for 7.05 per cent rise.

Over the same period, Indias per capita income grew 6.5 per cent to Rs 81,805 from Rs 77,524.
Though Odisha’s economy has been on a high-growth trajectory in recent years, the state lagged behind the national average for decades in the past.

“This can be attributed to sustained development initiatives and prudent marco management of economy. The economy has been witnessing the structural transformation from an agriculture-based economy to services and industry driven economy,” said the report.

Contribution of different sectors to GSDP

From 2003, the state registered growth of above eight per cent as against the national average of 7.5 per cent.
However, the contribution of manufacturing sector to the state’s growth has declined to 18.27 per cent in 2016-17 from 19.19 per cent in 2015-16. With iron, steel and non-ferrous metals contributing 72 per cent to the manufacturing sector, the gross value stood at Rs 63,695 crore.

The service sector contributed 43.53 per cent to the GSDP and the sector is expected to grow 8.08 per cent in 2016-17, the report said.

Poverty reduction

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 57.20 per cent in 2004-05 to 32.59 per cent in 2011-12, the highest reduction among major states,” it said.