top of page

Discuss the growth performance of odisha economy since 1991. Comment on sectoral growth rates.


The economy of Odisha, located on the eastern coast of India, has experienced significant growth since 1991, the year that the Indian economy began to undergo liberalization and economic reforms.


According to data from the Reserve Bank of India, the state's gross domestic product (GDP) has grown at an average annual rate of 7.5% since 1991, outpacing the national average of around 6%. This growth has been driven by a number of sectors, including agriculture, manufacturing, and services.


Agriculture remains an important contributor to the state's economy, with around 60% of the state's population dependent on the sector for their livelihood. The sector has grown at an average annual rate of 4.5% since 1991, driven by increased irrigation, the adoption of modern agricultural practices, and the expansion of export-oriented crops such as seafood and horticultural products.


The manufacturing sector has also played a significant role in the state's economic growth, with the establishment of several large-scale industrial units in the state. The sector has grown at an average annual rate of 9.5% since 1991, driven by the growth of industries such as steel, aluminum, and petrochemicals.


The services sector, which includes activities such as trade, transportation, and financial services, has also contributed significantly to the state's economic growth. The sector has grown at an average annual rate of 8.5% since 1991, driven by the expansion of the state's infrastructure and the growth of the state's tourism industry.


In summary, the economy of Odisha has experienced strong growth since 1991, driven by a combination of sectors including agriculture, manufacturing, and services. The state's GDP has grown at an average annual rate of 7.5% since 1991, outpacing the national average

 
 
 

Recent Posts

See All

Comments


Top Stories

Bring global news straight to your inbox. Sign up for our weekly newsletter.

Thanks for subscribing!

  • Instagram
  • Facebook
  • Twitter

© 2023 by The  www.opscodia.com  Powered and secured by opscodia

bottom of page