GSDP- Gross State Domestic Product Source: Economic Survey of Odisha, News Article
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ODISHA SUN TEMPLE AT KONARK, ODISHA June 2021 For updated information, please visit www.ibef.org Table of Contents Executive Summary 3 Introduction 4 Economic Snapshot 9 Physical Infrastructure 15 Social Infrastructure 23 Industrial Infrastructure 26 Key Sectors 29 Key Procedures & Policies 37 Appendix 48 2 Executive summary Strong economy 1 • Cumulative FDI inflow in the state amounted to US$ 32.80 million between October 2019 and March 2021. Strong mineral production • Odisha has emerged as the key state with regard to the mineral and metal-based industries. In 2019-20^, Odisha contributed to the largest share (35.3%) of mineral production (by value*) in India. Value* of minerals produced in 2 the state reached Rs. 70.54 billion (US$ 951 million) in 2020-21^. Strong growth in MSME units • The state is home to a large number of MSME units. The state is amongst the top ten states accounting for the 3 highest number of MSME enterprises. Strong power sector • Odisha is the first state in India to have undertaken reform and restructuring initiatives in the power sector. As of 4 April 2021, Odisha accounted for a total installed power generation capacity of 8,594.47 megawatts (MW). Note: *- Excluding fuel minerals, atomic minerals and minor minerals, ^- Until September 2020, MSME- micro small medium enterprises, GSDP- Gross State Domestic Product Source: Economic Survey of Odisha, News Article 3 INTRODUCTION 4 Fact file Bhubaneswar Capital 43.95 million 270 persons per sq km total population Population density 75.5% 155.707 sq.km. 25.5 million 27.1 million literacy rate geographical area female population male population 979 Administrative districts: 30 Sex ratio 67.8% 83.2% (females per 1,000 males) Male literacy Female literacy Key Insights rate rate . Odisha is located in the eastern region of India. The state shares its borders with West Bengal in the north-east, Jharkhand in the north, Andhra Pradesh in the south, Chhattisgarh in the west and the Bay of Bengal in the east. Languages spoken in the state are Odia and its various dialects, Hindi and English. Bhubaneswar, Mayurbhanj, Baleshwar, Khordha and Sundargarh, Ganjam, Cuttack are some of the large cities in terms of population . Odisha has 3 major seasons, summer (March to June), monsoon (July-September) and winter (October-February). Source: Census 2011, Economic Survey of Odisha 5 Advantage High economic growth Policy, fiscal incentives and initiatives • The state’s GSDP increased at a CAGR of • The state offers a wide range of fiscal and policy incentives 6.72% between 2016-17 and 2020-21. for businesses under the Industrial Policy Resolution, • The tertiary sector was the key contributor 2007. (42.47%) to the state’s GSDP in 2020-21. • Additionally, the state has sector-specific policies for IT and micro, small and medium enterprises. • The state Government has constituted ‘Team Odisha’ to help with investment promotion. Facilitating infrastructure • In Union Budget 2021, Odisha allocated 6.4% of its total expenditure on health, (higher than the average allocation for health by other states (5.5%)), 7.5% on Rich labour pool rural development (higher than the • The state has a literacy average allocation for rural development rate of 72.87%, in line with by other states (6.1%)) and 7.8% on the national average. roads and bridges (higher than the • Furthermore, the state has average allocation by states (4.3%)). a large pool of semi-skilled • In Maritime India Summit 2021, the and unskilled labour. government announced to establish . Odisha as the hub of maritime trade. Note: BE- Budget Estimate Source: Economic Survey of Odisha, Central Statistics Office 6 Vision 2022 8. INDUSTRIAL 1. HEALTH DEVELOPMENT . To improve rural healthcare system, . To develop industrial parks with to provide quality emergency quality infrastructure, to encourage healthcare facilities, to patronise micro-enterprises as ancillaries and health insurance, to imbibe health to pave the way for cost & technology and hygiene content in education orientation by encouraging system, etc. 1 8 competition. 7. INFRASTRUCTURE 2. GOVT. SERVICES AND . To improve connectivity by increasing ADMINISTRATION road and rail density and to improve . To enhance the use of Information 2 7 passenger services. Technology (IT) . To provide universal access to to ensure transparency and speed. power, irrigation and to improve . To minimize interface between public urban infrastructure as well. and Government for dealings. 6. GROWTH AND WELL- 3 6 BEING 3. TOURISM & CULTURE . To frame concerted strategies to . To protect historical monuments address various issues of through proper renovation. unemployment and rural well being. To nurture and promote classical . To bring about growth with equity. music, dance and literature. 4 5 5. EDUCATION & SKILL 4. AGRICULTURE DEVELOPMENT . To improve the productivity of the sector, to . To foster technical and vocational education encourage modern agricultural practices, to and skill development programmes. bring insurance schemes for farmers against . To establish educational townships. natural disasters, etc. Source: Confederation of Indian Industry 7 Odisha in figures Odisha’s Contribution to Indian Economy (2019-20) Physical Infrastructure in Odisha’ GSDP GSDP as a percentage of all states’ GSDP India: 100.00 | Odisha: 2.5 Installed power capacity (MW) (as of April 2021) India: 382,730.02 | Odisha: 8,594.47 GSDP growth rate** (%) India: 9.80 | Odisha: 12.77 Wireless subscribers (million) (as of February 2021) Per capita GSDP* (US$) India: 1,167.70 | Odisha: 34.01 India: 1,956| Odisha : 1,721.97 Internet subscribers (million) (as of December 2020) Odisha’ Contribution to Indian Economy (2018-19) India: 795.18 | Odisha: 20.65 Literacy rate (%) National highway length (kms) (as of March 2021) India: 73.0 | Odisha : 72.87 India: 136,440 | Odisha: 5,897.08 Birth rate (per 1,000 population) (2018) India: 20 | Odisha : 18.2 India: 13+187| Odisha: 1+13 Airport (No.) Industrial Infrastructure India: 125 | Odisha : 2 Operational PPP projects (No.)( November 2019 ) Investments India: 1,824 | Odisha : 44 Operational SEZs (No.) Cumulative FDI equity inflow (from October (October 2020) 2019 to March 2021) (US$ million) India: 262 | Odisha : 5 India: 83,516.88 | Odisha: 32.80 Note: GSDP, per capita GSDP figures are taken at current prices, MW- megawatt, FDI- Foreign Direct Investment, PPP: Public-Private Partnership, SEZ: Special Economic Zone, SRS: Sample Registration System For source refer to Annexure 8 ECONOMIC SNAPSHOT 9 Economic Snapshot – GSDP GSDP at current prices GSDP per capita at current prices CAGR 6.72% CAGR 6.28% 80.00 6 1,800 140000 70.00 1,600 5 120000 73.95 1,400 60.00 5.21 5.10 70.20 69.80 1,689.25 68.41 100000 4.88 1,600.98 4 1,596.96 1,200 1,575.64 50.00 4.41 58.55 119,075.01 80000 115,922.99 3.93 1,000 1,354.23 40.00 3 111,892.26 800 101,549.96 60000 30.00 90,855.27 2 600 20.00 40000 400 1 10.00 20000 200 0.00 0 0 0 2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21 US$ billion Rs. trillion US$ Rs. At current prices, the gross state domestic product (GSDP) of Odisha . The state’s per capita GSDP was Rs. 121,381.91 (US$ 1,721.97) in stood at ~Rs. 5.10 trillion (US$ 70.20 billion) in 2020-21. 2018-19. Odisha’s GSDP increased at a CAGR of ~6.72% between 2016-17 . Per capita GSDP increased at a CAGR of 6.28% between 2016-17 and 2020-21. and 2020-21. Source: Ministry of Statistics and Programme Implementation 10 Economic Snapshot – NSDP NSDP at current prices NSDP per capita at current prices CAGR 7.02% CAGR 6.58% 70.0 5 1,600 120000 4.5 1,400 60.0 100000 4.58 4 4.49 64.94 1,200 4.28 61.86 61.24 50.0 60.20 3.5 1,483.41 3.88 80000 1,407.30 1,404.80 3 1,000 1,386.66 104,565.54 51.03 40.0 3.42 102,155.70 98,181.24 2.5 800 1,180.22 60000 89,370.21 30.0 2 600 79,181.13 40000 20.0 1.5 400 1 10.0 20000 0.5 200 0.0 0 0 0 2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21 US$ Rs. trillion US$ Rs. Odisha’s total NSDP was ~Rs. 4.49 trillion (US$ 61.86 billion) in . Odisha’s per capita NSDP was Rs. 102,155.70 (US$ 1,407.30) in 2020-21. 2020-21. The state’s NSDP (in Rs.) increased at a CAGR of 7.02% between . Per capita NSDP of Odisha increased at CAGR of 6.58% between 2016-17 and 2020-21. 2016-17 and 2020-21. Source: Ministry of Statistics and Programme Implementation 11 Economic snapshot – Percentage distribution of GSVA . In 2020-21, the tertiary sector contributed 42.47% to the state’s Gross State Value Added by Economic Activity at Current Basic Prices gross state value added (GSVA) at current prices, followed by primary (30.25%) and secondary (27.28%) sectors. 100% 38.54% CAGR* 42.47% . At a CAGR* of 9.32%, the tertiary sector was the fastest-growing 90% among the three sectors between 2011-12 and 2020-21. This was 80% driven by communication and services related to broadcasting, 70% financial services, water transport, public administration and other 9.32% services. 60% 31.57% 27.28% . The primary sector increased at a CAGR* of 8.30% between 50% 2011-12 and 2020-21.