16 Feb, Bhubaneswar
Though Odisha expects 8.78 percent growth rate in 2014-15 fiscal, the state stands fourth from the bottom in per capita income in all-India rankings, said the Economic Survey Report 2014-15 tabled Monday in the state assembly.
The three other states that are lagging behind Odisha are Assam, Uttar Pradesh and Bihar, in that order.
The report said the per capita income of Odisha in 2014-15 stood at Rs.28,384 against the national average of Rs.39,904, indicating a huge difference in the standard of living of people in the state compared to the national scenario.
In district-wise per capita income chart, Jharsuguda topped the chart while Angul came second and Nabarangpur is at the bottom.
While the Gross State Domestic Product (GSDP) expects 8.78 percent growth this fiscal against 2.21 percent growth in 2013-14, service sector contributed a maximum of 51.2 percent to GSDP while the agriculture sector contributed a minimum of 15.4 percent.
Industry sector has contributed 33.4 percent to GSDP, said the report. The highest contributor to GSDP was Sundargarh district and the lowest contribution came from Deogarh.
“The anticipated growth rate of Odisha economy during 2014-15 has been estimated as 8.78 percent at 2004-05 prices,” said the report.
It observed that the growth rate in 2013-14 was recorded a low of 2.21 percent due to the adverse impact of natural calamities like cyclone Phailin and industrial recession.
“Major factors like floods, droughts, cyclones and price variations in agricultural products contributed significantly to the varying degrees of growth rates, mostly negative growth rates in the last decade between 2004-05 and 2014-15,” it said.
This resulted in sharp fall in paddy production and manufacturing sector, registering low growth rate of 2.14 percent, the report said.
Compared to the negative growth rate in 2013-14, the growth rate for the fiscal year 2014-15 has been impressive owing to higher growth in industry and services sectors.
While the growth rate in construction sub-sector has been 21.56 percent, the transport, storage and communication sector recorded 12.18 percent growth.
Banking and insurance sub-sector showed a growth rate of 11.09 percent and in community, social and personal services sector the growth was 9.90 percent, said the report.