Bhubaneswar: The “Odisha Economic Survey 2017-18”, which was tabled by the Finance Minister Shashi Bhusan Behera at the State Assembly here on Thursday, estimated Odisha’s economy to grow at 7.14 per cent as against the national average of 6.5 per cent in 2017-18.
According to the Economic Survey, Odisha’s Gross State Domestic Product (GSDP) at 2011-12 prices stood at Rs 2.30 lakh crore in 2011-12 and increased to Rs 3.23 lakh thousand crore in 2016-17.
The per capita income at base year price of the state in terms of GSDP is estimated to be Rs 77,193 in 2017-18, which experienced a 6.06 per cent rise from Rs 72,780 in 2016-17, the survey report said.
The service sector as a leading contributor to GSDP has contributed 38.54 per cent in 2011-12 which increases tremendously to 45.22 per cent in 2017-18 and surpasses agriculture and industry sector over years, it stated.
The sector exhibited an accelerated growth rate of 10.7 per cent in 2016-17 and is estimated to grow at 12.4 per cent in 2017-18, it added.
The mining, manufacturing and construction sectors were estimated to grow moderately at 4.6 per cent, while electricity, water supply and other utility services sub-sector is expected to clock a growth rate of 9.6 per cent, the report said.
The survey report further said there was a need for continued policy priority for agriculture, especially in its allied sectors, in view of the high employment potential and favourable agro-climatic conditions.