Chief Minister Naveen Patnaik on Monday said Odisha’s economy contracted by 5.3% compared to 7.3% contraction in the national economy during the financial year 2020-21 due to a slowdown.
“Over the last 10 years, Odisha has grown at an average rate of 6.5% against national average of 5.3%. During 2020-21 fiscal due to slowdown, Odisha’s economy contracted by 5.3% compared to 7.3% contraction in national economy and that would mean comparatively we are less-affected,” said Patnaik while making his statement on the motion of thanks on the Governor’s speech in State Assembly through videoconferencing.
“As per advance estimates for 2021-22, Odisha registered 10.1% growth compared to 8.8% growth in National Economy. Odisha is the only State to be fully Fiscal Responsibility and Budget Management (FRBM) compliant since enactment. Fiscal prudence and inclusive development are our twin policy objectives that guide our growth trajectory, Patnaik said.
Despite the pandemic, Odisha has emerged as a leading investment destination with over Rs 4.4 lakh-crore investment intent during the last three years with more than 1.53 lakh employment opportunities, he said.
“I am sure Odisha will continue to be the leader State and the most preferred investment destination,” he said.
Patnaik said the State Government aims to saturate all rural households with tap water connection by 2024 with a capital outlay of Rs 50,263 crore under the State Saturation Plan.
The State Government has provided special financial support to the MSME sector to tide over the Covid crisis. The Government had continuous engagement with the industry to ensure that their production and logistics are not hampered by the pandemic, he said.
Informing about various incentives and aids provided to needy people during the pandemic, Patnaik said cash incentive of Rs.2,000 (in two tranches) per to each of the beneficiary families has also been provided by incurring an expenditure of Rs 960 crore.
The Government has distributed assistance of Rs 3,000 under Biju Pucca Ghar Yojana to each beneficiary for repair, renovation of their pucca houses sanctioned since 2014.
It is further proposed to provide financial assistance of Rs 5,000 each to eligible but left-out households who are yet to get any rural housing assistance, the CM 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 of their aspirations and give them ample opportunities to dream big and realise their full potential,” Patnaik said.