Odisha Economic Survey: Odisha’s economy projected to grow by 7.8% in 2022-23

Odisha’s economy is projected to grow by 7.8 per cent in real terms during 2022-23 against 7 per cent at All-India level as per advance estimates.

Odisha Economic Survey 2022-23 was circulated in the Odisha Legislative Assembly today. The Survey highlights the performance of the state economy and significant developmental initiatives.

According to the survey, on an overall basis, the growth outlook remains bright for the State. The economy is poised to grow in the range of 8 to 8.5 per cent in 2023-24 in real terms. Odisha’s per capita income at present (2022-23 AE) is INR 1,50,676. The compound annual growth rate of Odisha’s per capita income during 2011-12 to 2022-23 (AE) is 10.9 per cent. Odisha’s per capita income growth is much faster than the National rate.

The Economic survey suggested that state’s inflation is lower than all India.     

“The average monthly inflation in Odisha during 2022-23 (April-Dec) is 6.56 per cent which is lower than All-India (6.81 per cent) during the corresponding period. A well targeted and effective public distribution system focusing on food grains and the mid-day meal scheme, and efficient supply management practices have been immensely helpful in keeping inflation low in the State,” the report stated.