Bhubaneswar: The Odisha Economic Survey 2024-25, released by the Planning & Convergence Department ahead of the state’s annual budget, highlights robust economic growth. Odisha’s Gross State Domestic Product (GSDP) at current prices is estimated to be ₹9.5 lakh crore in 2024-25, marking a 10% increase from ₹8.6 lakh crore in 2023-24. The real economic growth rate is projected at 7.2%, surpassing the national average of 6.4%.
The state’s per capita income has risen by 10.6% to ₹1,82,548, with Odisha showing convergence with the national average of ₹2,00,162. Labour Force Participation Rate (LFPR) in the state has improved significantly, reaching 64.9% in 2023-24, compared to the national level of 58%. Female LFPR has also risen sharply from 24.4% in 2018-19 to 49.4%, higher than the national figure of 42%.
Agriculture and Allied Sectors Show Strong Growth
The agriculture and allied sectors recorded a 3.3% growth rate, contributing 19% to the Gross State Value Added (GSVA). Odisha’s agricultural growth averaged 7% over the past five years, compared to India’s 4.1%. Foodgrain production reached a record 143 lakh metric tonnes (MT) in 2023-24, growing at 5.2% CAGR. The state remains the fifth-largest rice producer, with production rising from 97.6 lakh MT in 2019-20 to 115.4 lakh MT in 2023-24.
Crop diversification efforts have boosted the cultivation of cash crops like cotton, maize, vegetables, and spices, enhancing farmer incomes. Vegetable production grew to 109.3 lakh MT in 2023-24, positioning Odisha as India’s seventh-largest vegetable producer. The government is also expanding oil palm cultivation to reduce reliance on imported edible oils.
Improved irrigation infrastructure has played a key role in agricultural development. Kharif irrigation coverage expanded from 43.1 lakh hectares in 2019-20 to 49.9 lakh hectares in 2023-24, while Rabi irrigation increased from 19.5 lakh hectares to 22.2 lakh hectares. Sprinkler and drip irrigation schemes have covered 53,733 hectares in 2023-24, with a target of 1.5 lakh hectares in 2024-25.
Dairy, Poultry, and Fisheries Sectors Expand Rapidly
Milk production in Odisha grew by 6.8% in 2023-24, outpacing the national growth rate of 3.8%, with total production reaching 26.4 lakh MT. However, per capita milk availability remains at 156 grams/day, below the national average. To address this, schemes like GOMATA and the Mukhyamantri Kamdhenu Yojana (MKY) have been launched to boost milk production.
The poultry sector has experienced rapid expansion, with egg production increasing by 9.2% to 372.3 crore in 2023-24, higher than India’s 6.8% growth rate. Fish production also saw a strong rise, growing at an 8.3% CAGR, with total output reaching 11.2 lakh MT in 2023-24. The Mukhyamantri Maschyajibi Kalyan Yojana (MMKY) has been introduced with a ₹2,239 crore outlay over five years to boost fish production, exports, and employment.
Industrial and Export Growth on the Rise
Odisha’s industrial sector is expected to grow at 6.1% in 2024-25, contributing 43.9% to the GSVA. Merchandise exports from Odisha have more than doubled from ₹47,200 crore in 2019-20 to ₹98,800 crore in 2023-24, recording a CAGR of 20.3%.
The state is aggressively promoting industrial diversification, with a focus on employment-intensive sectors like textiles, apparel, and green industries. Investment commitments worth ₹16.7 lakh crore were received at Utkarsh Odisha 2025, expected to create 12.9 lakh jobs across 20 sectors. The state government approved 133 new projects worth ₹2.4 lakh crore between June 2024 and January 2025, generating 1.8 lakh jobs.
Odisha remains India’s top mineral-producing state, accounting for 45% of national major mineral production in 2023-24. The state’s mineral output grew at a CAGR of 21.4%, the highest among all major mining states.
IT, Tourism, and Infrastructure Development
The services sector is estimated to grow by 10% in 2024-25, contributing 37.1% to the state’s economy. Bhubaneswar is emerging as a major IT/ITeS hub, with software exports rising from ₹4,500 crore in 2019-20 to ₹12,904.5 crore in 2023-24, growing at 30% annually.
Tourism continues to expand, with hotels and restaurants expected to grow at an impressive 14.3% in 2024-25. Odisha has also become a major air travel hub, with direct international flights to Bangkok, Dubai, Singapore, and Kuala Lumpur under the New Destination Policy 2024. Domestic air connectivity is improving, with new flights launched from Bhubaneswar and Jharsuguda.
Railway infrastructure is expanding rapidly, with a record ₹10,600 crore allocated for development in 2024-25. The railway network grew from 2,652 km in 2019-20 to 3,093 km in 2023-24, with eight new projects approved in tribal districts. The state government has also committed to building 75,000 km of high-quality roads.
Social Sector Initiatives and Fiscal Health
Odisha has maintained prudent fiscal management, with a fiscal deficit of 3.4% and revenue surplus of 2.9% of GSDP in 2024-25. The state’s debt-to-GSDP ratio remains the lowest among major states at 13.2%. Odisha topped NITI Aayog’s Fiscal Health Index (FHI) 2025, with the highest score of 67.8.
Healthcare initiatives include the integration of Gopabandhu Jan Arogya Yojana (GJAY) with Ayushman Bharat PM-JAY, providing cashless healthcare in 29,000 hospitals. Trauma care and pediatric cancer units are also being expanded.
In education, NEP 2020 has been launched, alongside Godabarisha Mishra Adarsha Prathamik Vidyalaya Yojana, aimed at upgrading 6,794 primary schools. The Mukhyamantri Medhabi Chatra Protsahan Yojana has allocated ₹22.82 crore for scholarships. Over 20,000 teachers were recruited in 2024-25 to improve student-teacher ratios.
Women and Tribal Welfare Initiatives
Women’s empowerment remains a priority, with SUBHADRA Yojana providing ₹50,000 financial assistance to 80 lakh women over five years. The Lakhpati Didi Yojana has supported over five lakh Self-Help Group (SHG) women in achieving financial self-sufficiency.
Tribal development programs such as the PM JANMAN Scheme and PM JUGA aim to uplift Odisha’s tribal communities by ensuring access to basic facilities, education, and employment. Additionally, Mukhyamantri Sampoorna Pushti Yojana (MSPY) is addressing malnutrition among children and women.
Odisha’s economic growth trajectory continues to be strong, with focused efforts on agriculture, industry, services, and infrastructure development. The state’s investment-friendly policies, robust fiscal management, and targeted social initiatives are propelling it towards becoming one of India’s fastest-growing economies. With ambitious plans across multiple sectors, Odisha is well on track to achieving its vision of inclusive and sustainable growth.
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