Bhubaneswar, July 24: According to Economic Survey report -2023-24, the agriculture and allied sectors are estimated to grow by 3.5 percent in 2023-24 which contributed 20.4 percent to the Gross State Value Added (GSVA). The state needs to take measures towards crop diversification to enhance productivity and farmer’s income.
Odisha is the 5th largest rice producer in the country with 7 per cent share in total rice production in India as of 2021-22. Yield of various crops in Odisha is lower than the national average. Rice yield in Odisha is 19 per cent lower than all India level while there is 61 per cent yield gap in case of pulses. There is a need to increase yield and improve efficiency to increase farmer’s income
On the other hand, the industry sector in Odisha is expected to grow at 8.7 per cent in 2023-24 as per advance estimate contributing 43.2 per cent to the Gross State Value Added (GSVA). However, Industrial activities in Odisha are concentrated mainly in basic metal and mineral based industries. It needs to put more concerted effort to diversify from mineral based industries to other value-added industries.
The services sector is estimated to grow at 9.2 per cent in 2023-24 (AE) contributing around 36 per cent to State economy with an employment share of 26 percent of total workforce. While some IT companies have opened their domestic and global operations in Bhubaneswar, the State needs to encourage more IT and ITeS companies to open its operation in Odisha thereby increasing IT/Software exports from Odisha.
Services sector accounted for 26 percent of Odisha’s total workforce in 2022-23, being the second largest employer after agriculture and allied sector (48 per cent).
Odisha Tourism has immense potential. However, post pandemic, the State is yet to recover in terms of tourist footfall. Therefore, the State needs to augment its investment in tourism infrastructure, making Odisha the top tourist destination state, says the report
