Bhubaneswar, March 29: With prudent financial planning, Odisha’s Gross State Domestic Product (GSDP) grew at 10.1% in 2021-22 compared to 8.8% growth in India’s GDP, as per Odisha Economic Survey Report 2021-22 published on Tuesday.
Odisha’s economy continued to grow at a spectacular rate averaging a real growth rate of 9.2%, from FY17 to FY22, leaving aside the COVID19 year, it said.
The Per Capita Income (PCI) of Odisha has grown at a double-digit rate of 16.8 per cent in 2021-22.
“The average growth of Odisha’s per capita income over the last ten years (2012-13 to 2021-22) is 10.3 per cent against 9.15 per cent growth rate in the case of India,” it said.
It said, “Odisha’s per capita income of Rs 48,499 in 2011-12 reached Rs 1,27,383 in 2021-22. While in absolute terms, it is lower than India’s per capita income, the rate at which it is growing implies that it would soon exceed India level.”
Odisha’s per capita income was 76 per cent of the per-capita income of India in 2011-12. It stands now at 84.7 per cent in 2021-22.
According to the report, between 2011-12 and 2019-20, for which comparable data are available, there are only nine states including Odisha whose per capita income rank has improved, while in the case of ten states, there is no change in rank and another ten states have dropped in per capita income ranking.