Keep the juggernaut rolling
Odisha were a country, its economy would be larger than Tanzania's, Sri Lanka's or Ghana's.
The state has nearly bridged the gap with the national per-capita income. In 2003, its per-capita income was 60% of the national average, and today, it's close to 90%. This convergence was possible as Odisha's economy grew faster (7.4%) than the national average (6.2%). Its population growth rate has slowed to 0.6% a year, compared to 0.9% for the nation.
Growth momentum has been evident across sectors, including agriculture, manufacturing and services. Additionally, at nearly 10% of its economy and growing at 8% annually, mining has contributed to the state's economic well-being and robust public finances. Thanks to mining royalties, the state has a unique fiscal advantage. It collected non-tax revenue to 3.5% of its GDP a year, compared to 1% for an average Indian state during the last decade.
The state's rising prosperity has been accompanied by notable improvements in various socioeconomic markers, such as GER (gross enrolment ratio), gender parity index, infant mortality rate, fertility rate, life expectancy, immunisation, and access to sanitation, drinking water and electricity.
Odisha has among the best fiscal yardsticks due to its deft fiscal management. It has been running a revenue surplus, unlike revenue deficit for an average state. It holds few contingent liabilities and runs a fiscal deficit within the limits mandated under its fiscal rule. The state's capex has doubled to nearly 5% of its GDP during the
