Odisha Economic Survey pegs State’s growth rate at 7.2 percent surpassing national average

Odisha's economic trajectory is set to register an impressive growth rate of 7.2% this fiscal year, outpacing the national average of 6.4%. These optimistic figures emerge from the Economic Survey report for 2024-25, which was released just days before the forthcoming presentation of the state's budget on Monday.

According to the report, Odisha's economy is expected to grow by 10%, amounting to INR 9.5 lakh crore. The agriculture and allied sectors are projected to contribute approximately 19% to this economic expansion, with a growth rate of 3.3%. The industrial sector is expected to be a major player, contributing 44%, with a growth rate of 6.1%. Meanwhile, the service sector is anticipated to account for 37% of the economy, witnessing a robust growth rate of 10%.

Furthermore, the annual per capita income within the state is predicted to see a 10.6% rise, reaching INR 1.83 lakh. On the other hand, inflation in Odisha for the 2024-25 financial year is predicted at 6.5%.

The Economic Survey provides a comprehensive insight into Odisha's economic outlook, offering a foundation for the strategic direction of the state's budget and economic policies.