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Economy of Odisha

Economy of Odisha
Bhubaneswar, the capital city of Odisha.
Statistics
Population4,70,00,000 (2023)[1]
GDP
  • ₹8.327 lakh crore (US$100 billion) (2023-24 est.) [2]
Increase
GDP rank14th (2021-22)
GDP growth
10.57% (2023-24 est.) (current prices) [3]
GDP per capita
₹161,437 (US$1,900) (2023-24) [4] Increase
GDP per capita rank
21st (2022-23)
GDP by sector
Agriculture 21%
Industry 43%
Services 36% (2023-24)[5]
7.1% [6]
Population below poverty line
Positive decrease11.07% 18th in poverty (2022-23)[7]
0.31 (2009-10)[8]
UnemploymentPositive decrease 1.7% (Nov 2020)[9]
Public finances
13.6% of GSDP (2024-25 BE)[10]
₹−32,403 crore (US$−3.9 billion) (3.5% of GSDP) (2024–25 est.)[10]
Revenues₹2.11 lakh crore (US$25 billion) (2024-25)[10]
Expenses₹2.65 lakh crore (US$32 billion) (2024-25)[10]
All values, unless otherwise stated, are in US dollars.


The economy of Odisha is one of the fastest growing economies in India.[11] According to 2023-24 economic survey, Odisha's gross state domestic product (GSDP) was expected to grow at 10.57%.[12] Odisha has an agriculture-based economy which is in transition towards an industry and service-based economy.

According to recent estimates, the size of Odisha's economy has increased by 54.93% during the last five years in terms of the gross state domestic product (GSDP). Thereby, Odisha achieved an annual average growth rate of 5.3% during that period.[13] Odisha is also one of the top FDI destinations in India. In the fiscal year 2011–12, Odisha received investment proposals worth ₹49,527 crore (US$9.296 billion).[14] According to the Reserve Bank of India, It received ₹53,000 crore (US$8.33 billion) worth of new FDI commitments in the 2012-13 fiscal year.[15]

  1. ^ "Population, Size and Decadal Change" (PDF). Primary Census Abstract Data Highlights, Census of India. Registrar General and Census Commissioner of India. Archived (PDF) from the original on 19 October 2019. Retrieved 5 December 2020.
  2. ^ "Statement Presented along with Odisha Budget 2024-25" (PDF). Finance Department,Govt.Of Odisha.
  3. ^ "Statement Presented along with Odisha Budget 2024-25" (PDF). Finance Department,Govt.Of Odisha.
  4. ^ "Odisha Budget 2024-25" (PDF). Finance Department,Govt.Of Odisha.
  5. ^ "Odisha Economic Survey 2024-25" (PDF). Finance Department,Govt.Of Odisha.
  6. ^ "Odisha had highest inflation rates". The Economic Times. 19 April 2024.
  7. ^ "MULTIDIMENSIONAL POVERTY IN INDIA SINCE 2005-06" (PDF). Niti Aayog. 1 January 2024.
  8. ^ Vipin Sharma (24 January 2013). State of India's Livelihoods Report 2012. SAGE Publications. p. 26. ISBN 978-81-321-1095-8. Retrieved 25 May 2015.
  9. ^ "Unemployment Rate in India". Centre for Monitoring Indian Economy. Retrieved 3 November 2020.
  10. ^ a b c d Cite error: The named reference FRBM Statement was invoked but never defined (see the help page).
  11. ^ Mohanty, Siba (2 December 2016). "Odisha's economic transformation touchstone of India's growth: Arun Jaitley". The New Indian Express. Retrieved 22 February 2024.
  12. ^ "FRBM Statement" (PDF). 25 July 2024. p. 1.
  13. ^ "FRBM Statement" (PDF). July 2024.
  14. ^ "Odisha top FDI destination in FY12, Gujarat at No. 3: Assocham". NDTV. 28 August 2012. Retrieved 25 May 2015.
  15. ^ "RBI investment data overshoot Odisha figure four times". Business Standard. 17 September 2013. Retrieved 25 May 2015.

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