Odisha GSDP

Budget estimates fiscal deficit to be at 3.4%, within permissible limit of FRBM target

According to the Odisha Economic Survey, the state's GSDP is growing at average annual growth rate of 7.5%, enabling it to grow at rate faster than national average in 8 years save 2014-15

Budget seeks to strike balance between fiscal prudence and funding a bevy of welfare schemes, by curbing fiscal deficit for FY20 at 3.49% within the 3.5% cap mandated under FRBM Act

Odisha's Gross State Domestic Product (GSDP) is projected to grow at the rate of 7.14 per cent in 2017-18, higher than the national average of 6.5 per cent, says the state's Economic Survey.The survey goes on to point that the state economy in 2016-17 expanded by a striking 10.39 per cent as per the first revised estimates. Odisha has shed the tag of a laggard state and is exhibiting strong catch up growth, helping in the transformation of the economy.Between 2011 and 2017, while the state economy expanded by 53 per cent, its real per capita income increased by 42 per cent to an estimated level of Rs 92,727 in 2017-18.The survey attributed the growth trajectory of the state over the last five years to several development initiatives and prudent macro management of the economy."A structural shift is visible but it is largely on account of a shrinking share of industrial sector in the state. At present, services account for 45 per cent of the GSDP, industry 35 per cent and agriculture ..