Odisha Reboots Economy After COVID Impact, To Grow At 10.1Pc In FY22: CM Patnaik

Odisha Chief Minister Naveen Patnaik on Monday said the state's economy has been protected from the adverse impact of COVID-19 and is likely to register a growth of 10.1 per cent in the current fiscal.

Speaking on the motion of thanks to the governor for his address to the assembly at the beginning of the budget session, the CM said his government has "successfully" managed the pandemic.

As per advance estimates for 2021-22, Odisha will register 10.1 per cent growth as compared to 8.8 per cent growth in the national economy, he said.

Noting that the recovery from COVID-19 was a huge challenge, Patnaik said, "We have met this challenge with resolve and have been able to successfully reboot our economy."

Over the last 10 years, Odisha has grown at an average rate of 6.5 per cent as against 5.3 per cent at the national level.

During the 2020-21 fiscal, the state's economy contracted by 5.3 per cent due to a slow down, while a "7.3 per cent contraction" was registered nationally, he said,

"This would mean, we are less affected comparatively," the CM said.

Odisha was the only state to be fully compliant with the Fiscal Responsibility and Budget Management Act since the enactment of the law, Patnaik said in the House.

Fiscal prudence and inclusive development are "our twin policy objectives that guide our growth trajectory", he said.

The CM also claimed that Odisha was a pioneer state in implementing international best practices in public finance management and his government is providing complete budget information in user-friendly formats.

My government has brought out new disclosures, along with Annual Budget, 2021-22 making the state a leader in the budget transparency and disclosure, he said adding that its success in the Start-up Odisha Initiative has helped it secure "top Performer" and "leader state" positions in such rankings in 2018 and 2019.

The state government also provided special financial support to the micro, small and medium enterprises to tide over the COVID crisis, Patnaik said.

"We had continuous engagement with industries to ensure that their production and logistics were not hampered by the pandemic," he said.

Despite the COVID-19 crisis, Odisha has emerged as a leading investment destination with over Rs 4.4 lakh crore investment proposals during the last three years, with more than 1.53 lakh employment opportunities, he said.

Odisha's tourism and hospitality sector also has a huge potential to generate employment and contributes to the state economy, the CM said.

Odisha has undertaken the Integrated Master Planning and Destination Development programme to boost tourism, facilitate private sector investments, augment livelihood opportunities for the local communities and promote entrepreneurship, he stated.

The state aimed at providing all rural households with tap water connection by 2024 with a capital outlay of Rs 50,263 crore under the State Saturation Plan.

Claiming that Odisha is a trendsetter in the country in achieving universal coverage of tap water connections, Patnaik said Puri is the only town in India to have secured a place in the prestigious league of international cities in providing safe drinking water facilities to all households.

He also mentioned that the state's success in agriculture, rural housing and food security and economic and political uplift of women and in launching lift irrigation programmes.

He also focused on development of schools and formulation of a vision document for integration and transformation of "Odisha Adarsha Vidyalaya" into centres of excellence.

Odisha is playing a key role in the turnaround of the country's sports scenario with its continuous support for players and investment in sports infrastructure, he said.

We are moving ahead in a determined path to transform Odisha, empower its people and take them to the next level of technology and transparency and build the new Odisha, Patnaik added.