Odisha Posted 8.4% GSDP Growth In 2018-19 FY

Bhubaneswar: The economy of Odisha has registered a growth rate of 8.4 per cent in the Gross State Domestic Product (GSDP) during the 2018-19 financial year, according to the report of the Odisha Economic Survey 2018-19.

The GSDP was 7.4 per cent in 2017-18, added the report tabled by the Planning and Convergence department in the State Assembly on Friday.

The other highlights of the report are:

— In terms of GSDP growth over a five-year period between 1996-97 and 2016-17, Odisha has grown at a faster rate than Haryana, Punjab, Kerala, Chhattisgarh, Madhya Pradesh, Maharashtra and Jharkhand.
— Odisha with control over population growth and strong economic growth, has managed to improve its rank from 25^th in 1996-97 to 16^th in 2016-17.
— Nearly 48% of workers are employed in the agriculture sector.
— Average monthly household income in agriculture has increased to Rs 7,731 in 2016-17 from Rs 4,976 in 2012-13.
— Odisha is one of the best performing states in reducing Infant Mortality Rate (IMR) with a 41-point decline from 1998-99 to 2015-16.
— The Total Fertility Rate (TFR) or the average number of children per woman has reduced from 2.6 to 2.0 in from 2004-06 to 2014-16.
— As per Census 2011, the state’s literacy rate is 72.9% with a decadal increase of 9.8%.
— As per NITI Aayog’s SDG (Sustainable Development Goal) India Index Baseline Report 2018, Odisha has been classified as a ‘Performer’ State, based on its aggregate performance on 13 out of 17 SDGs. Significantly, Odisha is classified as ‘Achiever’ state in Goal 15: Life on Land.
— Industrial sector comprised nearly 39.5% of Gross State Value Added (GSVA) in 2018-19 AE (Advanced Estimates) as compared with 29.8% at all India level (2018-19 AE).
— The manufacturing and mining sectors had a growth rate of 15.8% and 4.3% respectively in 2018-19 AE.
—The state has improved its share in total manufacturing output at all India level (1.4% in 2004-05 to 2.1% in 2016-17).
—In the second edition of the Make in Odisha Conclave, Odisha received investment commitment of over Rs 4.23 lakh crore (same as the size of the economy of Odisha) across 17 sectors with an employment potential of 6.03 lakh.
—The service sector is the largest contributing sector to state Gross Value Added (GVA) at 41.6% (in 2018-19 AE).
—Nearly 24.8% of the workforce is dependent on the services sector (2017-18).
—As per 2018-19 (Revised Estimates), the state has reported 2.2% revenue surplus (as % of GSDP) and 2.9% of fiscal deficit (as % of GSDP) as against the requirement of 0% and 3.5% respectively.
—Wireless tele-density of Odisha was 79.58 as compared with a national average of 91.09 as on March 2018.
—Out of total 51,311 villages of the state, about 11,000 villages do not have mobile connectivity (2016-17).
— The density of the rail route in Odisha is only 16-km against other states’ average of 20 km.
—Agriculture and allied activities experienced a growth of 8.3% in 2018-19.
—As per the Sixth Economic Census (2013-14), 6.9% of enterprises are in livestock as compared with 19.45% at all India level.
—In 2017-18, the production of fish grew by 16.7% to reach 6.85 lakh MT. Shrimp production witnessed a growth of 31.15%.
—The gender gap in literacy rate has dropped to 14.4% in 2014 from 24.9% in 2001.
—In 2018-19, state’s per capita income (in real terms) is expected to be Rs 75,796 from Rs 70,799 in 2017-18. The per capita income of the state has grown by Rs 28,000 in the last seven years.
—The unemployment rate in the state in 2017-18 was 7.1% as compared to the all India average of 6.1 per cent. The unemployment rate was higher in urban areas (8.4%) as compared to rural areas (6.9%).