SME Times is powered by   
Search News
Just in:   • Coal production from India's commercial mines jumps 16.4 pc in April-June quarter  • India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri  • India's industrial production registers 1.2 per cent growth in May  • Govt committed to building safe and smart energy future: Minister  • Sanchez defends Spain's defence budget in response to Trump's threats 
Last updated: 20 Feb, 2021  

Orissa map THMB Odisha's economy expected to contract by 4.92% in 2020-21

Orissa map
   Top Stories
» India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
» QCOs benefit MSMEs by enhancing product quality, consumer satisfaction: Piyush Goyal
» Stock market opens higher as Trump indicates ‘great’ trade deal with India
SME Times News Bureau | 20 Feb, 2021
The economy of Odisha is expected to contract by 4.92 per cent in 2020-21 due to the impact of the Covid-19 pandemic, as per the Economic Survey Report 2020-21 released on Saturday.

The economy of Odisha has grown at 7.1 per cent per annum during the period 2012-13 to 2019-20 and is expected to contract by 4.92 per cent in 2020-21 as per the Advance Estimates, it said.

The decline in the growth rate between 2019-20 and 2020-21 is attributed to the devastating impact of Covid-19 on the state economy, said the report.

The contraction in Odisha's real GSDP growth in 2020-21 at -4.92 per cent is lower than the contraction of the national economy at -7.7 per cent.

The agriculture sector of the state is estimated to contract by 6.54 per cent in comparison to a positive growth of 3.40 per cent at national level.

The industry sector and services sector contracted by 8.83 per cent and 3.18 per cent in Odisha as compared to 9.57 per cent and 8.77 per cent contraction at national level during 2020-21, the report said.

The stringent measures imposed by the state government to contain the spread of Covid-19 in earlier phases and the impact of severe cyclone Amphan had greater impact on Rabi crops.

Similarly, floods in some parts of the state and long dry spells and pest attack on Kharif paddy was accompanied with contraction of livestock sub-sector by 32.97 per cent.

"However overall economic base of the state has emerged stronger which resulted in a significantly less contraction of the overall state economy in comparison to National scenario," it said.

The per-capita income of Odisha in 2020-21 is estimated at Rs 1,02,156 in comparison to Rs. 1,04,566 in 2019-20. The per-capita income of the state is expected to decline by 2.30 per cent as against the decline of 5.41 per cent at national level.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter