The State’s economy growth was 6.16 per cent in the 2015-16 fiscal, according to the State Economic Survey report, which was presented by the State Government in the Assembly on Thursday. The report said that the economy has performed creditably in 2015-16 despite intense drought in the State. The economic growth rate was 6.24 per cent during 2014-15 fiscal.
The number of people below poverty line has declined considerably in the 2015-16 fiscal, the report also said.
“Among the major States, Odisha has the distinction of achieving maximum poverty reduction by 24.6 percentage points from 57.2 per cent to 32.6 per cent during 2004 to 2011-12. Poverty declined in all regions and among all social classes such as SC, ST, OBC and others. This confirms the inclusive growth objective of the State,” the report said.
It too mentioned that per capita income has also gone up. The report noted the Government has succeeded in irrigation and electricity reforms in the fiscal. Similarly, the State made significant progress in the education sector with the literacy rate reaching 72.9 per cent.
The report, prepared by the Planning and Convergence Department, too claimed that the Government has been according high priorities to social sectors like education, health, safe drinking water, sanitation and development of the marginalized groups and backward regions, over successive plans with positive outcomes. It mentioned that the
services sector continued to overtake agriculture sector as the major contributor of the economy.
“The services sectors pre-dominates the State’s economy with an average share of 41 per cent of GSDP between 2011-12 and 2014-15 as per 2011-12 base,” the report said, adding, “During 2015-16, the service sector of the State will be mostly driven by trade sub-sector with a major share of 10.86 per cent to GDP at current prices followed by transport sub-sector. The real growth rate for the sector during the year expects to touch 9.65 per cent.”
On industry sector, the report said out of 252 numbers of large and medium industries in Odisha by March 2015, 162 were engineering and metal based industries with an investment of Rs 78,200.27 crore and they provided employments to 89,199 persons.