Bhubaneswar, July 24: Odisha’s economy is estimated to grow at 8.5% in 2023-24, up from 7.9% in 2022-23. This growth is primarily driven by the industry and services sectors.
It was revealed from the Odisha Economic Survey 2023-24 circulated in the state assembly ahead of presentation of the annual budget of the first BJP government in the state led by Chief Minister Mohan Charan Majhi.
The per capita income of Odisha for 2023-24 is INR 1,61,437, which is 12.4% lower than India’s per capita income of INR 1,84,205.
Since 2015-16, Odisha’s per capita income has grown at a CAGR of 12.1%, ranking 11th among 17 major states.
According to NITI Aayog, the multidimensional poverty headcount ratio in Odisha has decreased from 29.3% in 2015-16 to 15.7% in 2019-21. Over 62 lakh people have escaped multidimensional poverty during this period. However, Odisha still ranks 6th among the 17 major states in terms of high poverty incidence.
These figures indicate significant economic progress, especially in poverty reduction.
