The real Gross State Domestic Product (GSDP) of Odisha grew at 8.4 per cent in 2018-19 against 7.4 per cent in the preceding year, said the Odisha Economic Survey Report tabled in the State Assembly on Friday.
The services sector is the largest contributor with a 41.6 per cent sharing in the GSDP followed by the industries sector with a contribution of 39.5 per cent.
The mining sector has also been a major driver in the State’s economy with a 10.8-per cent contribution to the GSDP while the manufacturing sector has contributed 18.5 per cent.
An analysis of growth over a period of five years between Odisha and other States shows Odisha on an average has grown at a faster rate than States like
Haryana, Punjab, Kerala, Chhattisgarh, Madhya Pradesh, Maharashtra and Jharkhand, the Economic Survey Report stated.
Besides, Odisha’s rank on per-capita income improved from 25th in 1996-97 to 16th in 2016-17. Also, inflation in 2018-19 was 2.9%, which is lower than the all-India level, thereby implying a greater purchasing power, the report further stated.