Union Finance Minister Arun Jaitley on Thursday said Odisha's growth rate in recent times has significantly improved.
“Odisha which conventionally had a very high percentage of people below poverty line is now trying to improve upon its growth rate. And, its growth rate in recent times has significantly improved. Poverty level has come down,” Jaitley told reporters on the sidelines of the ‘Make in Odisha’ conclave here.
He said, in a short time, Odisha has transformed itself into a lasting ambition of the manufacturing and power generating units.
“If Odisha's GDP grows faster than the national GDP, then it will help improve the GDP of the country,” said Jaitley. Odisha registered a GDP growth of 9.2 per cent, two per cent higher than the national GDP growth rate, he said.
He further assured that the Odisha Government would get complete support of the Central Government for its Make in Odisha campaign.
Expressing gratitude to Chief Minister Naveen Patnaik for backing the demonetisation and the Goods and Services Tax (GST), Jaitley said these two decisions of Prime Minister Narendra Modi would prove to be the game changer for the Indian economy.
Jaitly said the two economic interventions would boost India's GDP growth.
"The GST will ensure higher taxation. It's a more efficient system and plugs leakages. It will certainly help States like Odisha," said Jaitley.
On demonetisation, the Union Minister said the hardships faced by people post demonetisation would remain for one or two quarters and asserted that its effect on the economy would be far reaching.
“As far as the currency change is concerned, once the remonetisation process is completed and the economy gets back to full speed, the size of the GDP will expand,” added Jaitley.