State economy grows 10.1%, per capita income rises 16.78% in 2021-22 fiscal

BHUBANESWAR: Chief Minister Naveen Patnaik on Monday said that the State has been able to successfully reboot the Covid-19 pandemic-hit economy by registering a growth of 10.1 per cent in 2021-22 compared to the national growth rate of 8.8 per cent. This has been made possible by adopting the twin policy of fiscal prudence and inclusive development, he said. 

Replying to the discussion on the motion of thanks to the Governor’s address in the Assembly virtually, the Chief Minister said that over the last 10 years, the State has grown at an average rate of 6.5 per cent against the national average of 5.3 per cent.

He said that during 2020-21 fiscal, Odisha’s economy was less affected by the pandemic-induced slowdown as it contracted by only around 5.3 per cent against 7.3 per cent of contraction in the national economy.

Stating that Odisha is the only state to be fully Fiscal Responsibility and Budget Management Act (FRBM) compliant since its enactment, the Chief Minister said that recovery of the economy from the impact of the pandemic was a huge challenge. The State has successfully met this challenge with resolve, he asserted.

In spite of the pandemic, Odisha has emerged as a leading investment destination with over Rs 4.4 lakh crore investment intent during the last three years that would create more than 1.53 lakh employment opportunities. 

“The State government has undertaken integrated master planning and destination development programme to boost tourism, facilitate private sector investment, augment livelihood opportunities for the local communities and promote local entrepreneurship,” he said. Odisha’s per capita income has also grown by an impressive 16.78 per cent in 2021-22 fiscal. 

Finance Minister Niranjan Pujari in reply to a question of MLA Pradeep Kumar Panigrahy, in writing, informed the House that the State’s per capita income that shrunk by .91 per cent to Rs 1,09,071 in 2020-21 following outbreak of Covid-19, increased to Rs 1,27,383, a growth of over 16 per cent in 2021-22. The per capita income of the State was Rs 1,10,081 in 2019-20. The Finance Minister said that the average per capita income of the country in 2021-22 was Rs 1,49,848.

Data shared by him reveals there has been a three-fold increase in State’s per capita income in the last 12 years as the average individual income of the State was Rs 39,537 in 2010-11. Goa has the highest per capita income of Rs 4,91,352 followed by Sikkim at Rs 4,80,593 while neighbouring Andhra Pradesh has Rs 2,07,771.  Apart from the per capita income, the Finance Minister stated that Odisha’s Gross State Domestic Product (GSDP) as of 2021-22 fiscal stands at Rs 6.38 lakh crore.

KALIA scheme extended 

The KALIA scheme has been extended for three more years. Parliamentary Affairs Minister Bikram Keshari Arukha announced the decision in the Assembly on Monday. The decision was approved by the Cabinet on Sunday. The scheme launched before the 2019 general elections was to end on March 31 this year.