Home » State News » Odisha Now 13th Largest Economy of India

Odisha Now 13th Largest Economy of India

Bhubaneswar:9/4/24: The results of the transformation are visible. Odisha’s economic growth trajectory is scaling new highs. The story of Odisha’s economic resurrection continues with the state emerging as the leader in maximum development parameters. Today, it is being counted among the best performers in the country in terms of improving and expanding its economy and contributing to the nation’s growth. Propelled by the transformative efforts of the Government of Odisha led by Chief Minister Naveen Patnaik and the emergence of 5T Initiatives have helped the state achieve tremendous success. Today, adding another feather to its hat of economic successes, Odisha has become the 13th largest economy in India surpassing even Punjab and Bihar.

The latest report released by India Ratings has confirmed that Odisha has recorded a robust turnaround in its economy and stands among the best performers. The Report states that during the financial year 2022-23, Odisha became the 13th largest economy in the country. According to the India Ratings report, during FY 2004-05, Odisha’s economy was worth USD 1830 crore which increased to USD 4900 Crore during the year 2013-14. By the year 2022-23, Odisha’s economy rose to USD 9370 Crore. Today, Odisha stands ahead of many states including Punjab, Bihar, Assam, Chhattisgarh, Jharkhand, Uttarakhand, Himachal Pradesh, Goa, Tripura, Sikkim, Meghalaya, Arunachal Pradesh, and Manipur.

The Per-capita income of Odisha has also increased significantly in the last two decades of transformative governance. The state’s Per-capita income has increased from USD 443 in FY 2004-05 to USD 1807 in FY 2022-23. The State’s position in terms of Per-capita income has improved from 23rd to 18th during this period.

According to the India Ratings, Maharashtra, Karnataka, and Gujarat are likely to be $1 trillion economies by the financial year 2039. Tamil Nadu would be the next state to reach the $1 trillion club by FY 2041 if it continues with the present estimated nominal GSDP growth of 7.2 percent.

In an earlier report, the India Ratings had reported that, during the last six years, Odisha’s economic juggernaut has scaled new highs and the state has more than doubled its Gross State Domestic Product. Odisha’s economy grew the most between FY 2016 and FY2022 and the state more than doubled its economy in the last six years on a nominal basis.

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.

Check Also

A Bhumiputra will rule the land of Utkala Bhumi, not a Tamil babu:Amit Shah

Sambalpur:21/5/24: Union Home Minister Amit Shah Tuesday reached Sambalpur for BJP’s Lok Sabha poll campaign in Odisha. Launching a direct attack on the 25-year rule of Chief Minister Naveen Patnaik ...