The report emphasized Odisha's commitment to accelerating growth and development to boost per capita income and contribute to the nation's 'Viksit Bharat' objective.
Despite a compound annual growth rate (CAGR) of 12.1 percent in per capita income (PCI) since 2015-16, the state ranks 11th among 17 major states. The advance estimate for 2023-24 places Odisha’s PCI at Rs 1,61,437, which is 12.4 percent lower than the national PCI of Rs 1,84,205, though it marks an increase from Rs 1,50,676 in 2022-23.
The report also noted a significant reduction in the multidimensional poverty headcount ratio from 29.3 percent in 2015-16 to 15.7 percent in 2019-21, lifting over 62 lakh people out of poverty. However, Odisha still ranks 6th among major states with high poverty incidence.
Industry and service sectors are identified as key drivers of economic growth. The industry sector is projected to grow by 8.7 percent in 2023-24, contributing 43.2 percent to the Gross State Value Added (GSVA). The services sector is expected to grow by 9.2 percent, accounting for 36 percent of the GSVA, with 26 percent of the workforce employed in this sector.
Given the concentration of industrial activities in basic metal and mineral-based industries, the report highlighted the need for diversification into other value-added industries. It also recommended that the government encourage more IT and ITeS companies to establish operations in Odisha, enhancing IT/software exports from the state.
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