Bhubaneswar: The Economic Survey of Odisha tabled in the state Assembly Saturday predicted negative economic growth in the current fiscal, majorly attributed to the COVID-19 pandemic.
The survey predicted the state’s growth rate is likely to come down by 4.92 per cent in 2020-21 as per the Advance Estimates (AE). All sectors of the economy are said to register negative growth. The government has cited the pandemic and cyclones as prime reasons for the dip in growth of the state economy.
“The economy of Odisha has grown at 7.1 per cent per annum during 2012-13 to 2019-20 and the expected growth rate is (-) 4.92 per cent in 2020-21 (AE). The decline in the growth rate for 2020- 21 (AE) is attributed to the devastating impact of Covid-19 on the state economy,” the report added.
The annual survey by the Finance department said that the dip in Odisha’s real Gross State Domestic Product (GSDP) is lower than that of the national average. The country at large is expected to see -7.7 per cent growth.
