State financial system grows 10.1%, per capita revenue rises 16.78% in 2021-22 fiscal

By Express News Service

BHUBANESWAR: Chief Minister Naveen Patnaik on Monday stated that the State has been in a position to efficiently reboot the Covid-19 pandemic-hit financial system by registering a progress of 10.1 per cent in 2021-22 in comparison with the nationwide progress charge of 8.8 per cent. This has been made doable by adopting the dual coverage of fiscal prudence and inclusive growth, he stated. 

Replying to the dialogue on the movement of due to the Governor’s tackle within the Assembly just about, the Chief Minister stated that during the last 10 years, the State has grown at a median charge of 6.5 per cent towards the nationwide common of 5.3 per cent.

He stated that in 2020-21 fiscal, Odisha’s financial system was much less affected by the pandemic-induced slowdown because it contracted by solely round 5.3 per cent towards 7.3 per cent of contraction within the nationwide financial system.

Stating that Odisha is the one state to be totally Fiscal Responsibility and Budget Management Act (FRBM) compliant since its enactment, the Chief Minister stated that restoration of the financial system from the impression of the pandemic was an enormous problem. The State has efficiently met this problem with resolve, he asserted.

In spite of the pandemic, Odisha has emerged as a number one funding vacation spot with over Rs 4.4 lakh crore funding intent over the past three years that will create greater than 1.53 lakh employment alternatives. 

“The State government has undertaken integrated master planning and destination development programme to boost tourism, facilitate private sector investment, augment livelihood opportunities for the local communities and promote local entrepreneurship,” he stated. Odisha’s per capita revenue has additionally grown by a formidable 16.78 per cent in 2021-22 fiscal. 

Finance Minister Niranjan Pujari in reply to a query of MLA Pradeep Kumar Panigrahy, in writing, knowledgeable the House that the State’s per capita revenue that shrunk by .91 per cent to Rs 1,09,071 in 2020-21 following outbreak of Covid-19, elevated to Rs 1,27,383, a progress of over 16 per cent in 2021-22. The per capita revenue of the State was Rs 1,10,081 in 2019-20. The Finance Minister stated that the typical per capita revenue of the nation in 2021-22 was Rs 1,49,848.

Data shared by him reveals there was a three-fold improve in State’s per capita revenue within the final 12 years as the typical particular person revenue of the State was Rs 39,537 in 2010-11. Goa has the very best per capita revenue of Rs 4,91,352 adopted by Sikkim at Rs 4,80,593 whereas neighbouring Andhra Pradesh has Rs 2,07,771.  Apart from the per capita revenue, the Finance Minister acknowledged that Odisha’s Gross State Domestic Product (GSDP) as of 2021-22 fiscal stands at Rs 6.38 lakh crore.

KALIA scheme prolonged 

The KALIA scheme has been prolonged for 3 extra years. Parliamentary Affairs Minister Bikram Keshari Arukha introduced the choice within the Assembly on Monday. The resolution was permitted by the Cabinet on Sunday. The scheme launched earlier than the 2019 normal elections was to finish on March 31 this 12 months.