Post News Network
Bhubaneswar, Dec 14: Services sector, which has seen phenomenal growth in the last one decade with rising share in state GDP, has 11.6 per cent contribution to total outstanding investment in the state during 2014-15, a top official of industry body Assocham has said in a report. “The services sector has contributed about 12 per cent of the total outstanding investment in the state during last fiscal,” General Secretary Assocham, D S Rawat said.
As per the report, share of investment in the services sector has seen 13 times rise in 2004-05 to 2014-15 period. While investment in the services sector during 2014-15 is at Rs 1.35 lakh crore, it was paltry Rs 10, 204 crore in 2004-05. Notably, total outstanding investment in Orissa during FY15 stood at Rs 11.7 lakh crore.
The report titled ‘Realising Economic Potential of Orissa’ by Asscham also stated that the share of services to Gross Domestic Product (GDP) of the state has improved to 51.2 per cent in 2014-15 against 42.4 per cent during 2004-05. “The growth in services sector has increased by around 1.7 times from the level recorded in 2013-14,” the report said adding the revenue in services during 2014-15 stands at Rs 7,602 crore against Rs 6,458 crore recorded in previous fiscal. The sector has seen an annual growth of 9.2 per cent during 2014-15, which is 5.4 per cent over the same period in last fiscal.
