Home » State News » Odisha’s economy is projected to grow at 7.8 per cent during 2022-23 as against 7 per cent at All India level

Odisha’s economy is projected to grow at 7.8 per cent during 2022-23 as against 7 per cent at All India level

Bhubaneswar23/2/23: Odisha’s economy is projected to grow at 7.8 per cent during 2022-23 as against 7 per cent at All India level as per the advance estimates. The state has also improved its share in India’s Gross Domestic Product (GDP), recording a rise from 2.64 per cent in 2011-12 to 2.8 per cent in 2022-23.

Odisha is also rapidly bridging the distance with some of the high-income States and is progressing at a fast pace, according to the Odisha Economic Survey (2022-23) report tabled in the Assembly on Thursday.

Odisha’s growth performance in 2022-23, despite unfavourable global conditions, is one of the highest. During the pre-COVID period (2012-13 to 2019-20), the average growth rate of Odisha’s economy was 7.1 per cent. The decade of 2021-30 is expected to work in favour of India given its demographics structure, usage of technology, push for innovation, competitive and cooperative federalism, stable government.

Odisha has all the resources to benefit from a high growth environment in the country and deliver prosperity for all. Assuming a normal monsoon, no further disruption to global supply chains and moderation in inflation, Odisha can grow in the range of 8 to 83 per cent in 2023-24 in real terms. The high growth achieved by Odisha needs to be contrasted with the gloomy and uncertain global macroeconomic situation.

As per the World Bank’s estimates, the global economy grew by 2.9 per cent in 2022. There are several factors responsible for such growth moderation, i.e., resurgence of COV1D-19 cases in China, Russia-Ukraine conflict disrupting the global supply chains and pushing up the commodity prices. In such uncertain times, Odisha has stood strong.

However, a global recovery as well as strong rebound of India would augur well for the State in future, said the survey report.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
x

Check Also

FHF’s newly restored Nirad Mohapatra’s acclaimed film ‘Maya Miriga’ (1984) will be screening at the Il Cinema Ritrovato in Bologna

Mumbai25/6/24:: FHF’s newly restored Nirad Mohapatra’s acclaimed film ‘Maya Miriga’ (1984) will be screening at the Il Cinema Ritrovato in Bologna on Thursday, June 27, 2024, at 11 am at ...