Bhubaneswar, Feb 20: Odisha’s growth rate will be at -4.92% in 2020-21 as per Advanced Estimate, said Odisha Economic Survey tabled in State Assembly on Saturday.
“It is estimated that Indian economy will contract by 7.7% during the year 2020-21 as for the Advanced Estimates released by the Government of India. Odisha’s economy is expected to have a contraction of 4.9% during the year 2020-21,” revealed the report.
It said the the economy of Odisha grew at 7.1% per annum from 2012-13 to 2019-20 and is expected to grow at -4.92% in 2020-21.
It reasoned out devastating impact of Covid-19 on the economy behind the decline in the growth rate. It said the resilience of the State economy and effective governance measure would help the State to perform better.
It also revealed that the per-capita income of Odisha in 2020-21 is estimated at Rs 1,02,156 in comparison to Rs 1,04,566 in 2019-20. The per-capita income of the State is expected to decline by 2.30% as against the decline of 5.41% at national level, it said.