Odisha’s economy surpasses national growth in 2017-18

Bhubaneswar: Odisha’s economy is estimated to grow at 7.14 percent as against the national average of 6.5 percent for India in 2017-18.

According to the Economic Survey Report-2017-18 tabled in the state assembly on Thursday, Odisha’s Gross State Domestic Product (GSDP) is estimated to grow at a rate of 7.14 percent at 2011-12 prices, which surpasses all India growth rate of 6.5 percent.

Service sector as a leading contributor to GSDP has contributed 38.54 percent in 2011-12 which increases tremendously to 45.22 percent in 2017-18 and surpasses agriculture and industry sector over years.

The consumer price inflation in the state exhibited a fluctuating trend and was the lowest level of 1.3 percent in 2017 (up to November 2017) as against all India level of 3.1 percent.

During the fiscal period 2011 to 2017, while the economy expanded by 53 percent, the real per capita income increased by 42 percent to an estimated level of Rs 92,727 in 2017-18.