Odisha’s economy poised for 8 to 8.5% growth in 2025-26
Bhubaneswar: Odisha’s economy is expected to witness a growth rate of 8 to 8.5% in FY26, according to the Economic Survey report tabled in the state assembly on Saturday.
The report estimates the state’s economy to be valued at Rs 9.5 lakh crore in 2024-25. “This financial year (2024-25), the economy is expected to grow at 7.2% in real terms. It is higher than the 6.4% growth rate of India,” reads the report.
The report highlights the state’s potential to achieve higher growth in the medium term by leveraging opportunities in mining and industry, tourism, infrastructure, communication development, and workforce training. The state’s per-capita income rose by 10.6% in 2024-25, reaching Rs 1.83 lakh, reducing the gap with India’s per-capita income of Rs 2 lakh. Odisha ranked 11th among states in per-capita income as per 2023-24 data.
Odisha maintains one of the lowest debt-to-GSDP (Gross State Domestic Product) ratios in the country. In 2024-25, revenue receipts reached Rs 2.11 lakh crore, reflecting a 13.7% increase over the revised estimates of 2023-24. The state’s total expenditure for the year is Rs 2.65 lakh crore.
Odisha’s urbanisation rate, currently at nearly 18%, is set to accelerate. The report identifies six key clusters expected to experience rapid growth in built-up areas over the next 5-10 years. These include Bhubaneswar-Cuttack-Puri (48.71%), Chatrapur-Berhampur-Gopalpur (31.22%), Balasore-Bhadrak-Jajpur-Paradip (38.36%), Sambalpur-Jharsuguda (34.67%), Rourkela (24.85%), and Jeypore-Sunabeda-Koraput (33.62%).
To bolster technological infrastructure, the state aims to establish a network of Tier-IV data centres in Bhubaneswar and other key locations.
The report estimates the state’s economy to be valued at Rs 9.5 lakh crore in 2024-25. “This financial year (2024-25), the economy is expected to grow at 7.2% in real terms. It is higher than the 6.4% growth rate of India,” reads the report.
The report highlights the state’s potential to achieve higher growth in the medium term by leveraging opportunities in mining and industry, tourism, infrastructure, communication development, and workforce training. The state’s per-capita income rose by 10.6% in 2024-25, reaching Rs 1.83 lakh, reducing the gap with India’s per-capita income of Rs 2 lakh. Odisha ranked 11th among states in per-capita income as per 2023-24 data.
Odisha maintains one of the lowest debt-to-GSDP (Gross State Domestic Product) ratios in the country. In 2024-25, revenue receipts reached Rs 2.11 lakh crore, reflecting a 13.7% increase over the revised estimates of 2023-24. The state’s total expenditure for the year is Rs 2.65 lakh crore.
Odisha’s urbanisation rate, currently at nearly 18%, is set to accelerate. The report identifies six key clusters expected to experience rapid growth in built-up areas over the next 5-10 years. These include Bhubaneswar-Cuttack-Puri (48.71%), Chatrapur-Berhampur-Gopalpur (31.22%), Balasore-Bhadrak-Jajpur-Paradip (38.36%), Sambalpur-Jharsuguda (34.67%), Rourkela (24.85%), and Jeypore-Sunabeda-Koraput (33.62%).
To bolster technological infrastructure, the state aims to establish a network of Tier-IV data centres in Bhubaneswar and other key locations.
