Bhubaneswar, Feb 5 (FN Bureau) Odisha is one of the fastest-growing states in the country in terms of economic growth, Governor Raghubar Das told the State Assembly. Addressing the inaugural day of the budget session of the Assembly on Monday, Das said the state economy has witnessed an annual growth rate of 6.7 percent at 2011–12 prices during 2012–2023, which is higher than the national annual average growth. He said, as per the advance estimate, Odisha’s economy has registered a growth of 7.8 percent in 2022–23 at 2012 prices, which is higher than the Indian economy projected to grow by 7 percent in 2022–23.
The governor said the rate of growth in the agriculture and allied sectors of the state during 2022–23 at 2011–12 prices has increased by 6 percent, whereas in the industries and services sector of the state, a growth rate of 6.1 percent and 8.8 percent has been achieved, respectively. The per capita income in Odisha, Das said, at current prices, has grown significantly to 16.9 percent in 2022–23 to reach 1.51 lakh from 1.29 lakh in 2021–22. The unemployment growth rate in Odisha has, the governor said, declined from 7.1 percent in 2017 to 6.2 percent in 2019–20. Das further claimed that Odisha has topped among the large states in fiscal management as per the first edition of the State Ranking 2023 by Care Edge. Better scores on revenue and fiscal deficit and healthy debt management indicators translated Odisha into the top rank in the fiscal category in the state ranking report, he said.
The governor also stated that Odisha has become the only state in the country to have a Budget Stabilization Fund to hedge against revenue shortfalls, if any, in the future. The state government,he said, is striving to eradicate poverty, reduce regional disparities, and address gender differences through various pro-people initiatives that will continue to prioritize the delivery of essential services, the creation of livelihood opportunities, and the development of key and basic infrastructure. The governor said, “I would like to reiterate in unequivocal terms that the state government is firmly committed to developing all regions of the state and empowering all sections of the people.