Bhubaneswar: Odisha’s economy is estimated to grow at 8.5 per cent in 2023-24 as per advance estimates in comparison to 7.9 per cent growth in 2022-23, according to Economic Survey Report 2023-24.
The report tabled in the state Assembly Wednesday said the growth, however, was concentrated in the industry sector and services sector.
The Per Capita Income of Odisha is Rs 1,61,437 in 2023-24 (AE), which is 12.4 per cent less than India’s per capita income of Rs 1,84,205.
The survey report said while Odisha’s per-capita income since 2015-16 has grown at a CAGR of 12.1 per cent, still Odisha ranks 11th among 17 major states in the country.
According to NITI Aayog, the multidimensional poverty headcount ratio in the state has declined from 29.3 per cent in 2015-16 to 15.7 per cent in 2019-21.
More than 62 lakh people escaped multidimensional poverty in the State between 2015-16 and 2019-21.
However, Odisha ranks 6th among the major 17 States with a high incidence of poverty headcount, the Economic Survey report said.
The agriculture and allied sectors are estimated to grow by 3.5 per cent in 2023-24 which contributed 20.4 per cent to the Gross State Value Added (GSVA).
The state, the report said, needs to take measures towards crop diversification to enhance productivity and farmer’s income.
UNI