Against all odds, Odisha has shown a remarkable economic growth amid the pandemic. This has come as a surprise to many, including those in the business world. According to the recent reports, the state’s GDP grew by 7.65% in the financial year 2020-2021. This begs the question: how did the state manage to achieve this milestone in these trying times?
One of the primary reasons behind this growth is the state government’s swift action and proactive measures to handle the pandemic. The state’s Chief Minister, Naveen Patnaik, took crucial steps such as early lockdowns, extensive testing, and contact tracing, which helped to contain the virus. Furthermore, the state’s healthcare system was up-scaled to cater to the needs of the public, along with the implementation of telemedicine services. All of these actions enabled the state to keep the spread of the virus at bay and allowed businesses to continue their operations.
Additionally, the state government introduced a slew of policies and schemes to assist businesses during these unprecedented times. The government announced a relief package of INR 15,000 crores to support businesses, MSMEs, and migrant workers affected by the pandemic. Further, initiatives like ‘Mo Sarkar’ and ‘5T’ were put in place to ensure swift and transparent governance and improve the ease of doing business in the state. The state also introduced ‘Odisha by Hand,’ an e-commerce platform that enabled weavers and artisans to sell their products online, allowing them to earn a livelihood despite the pandemic’s impact on their business.
Another factor contributing to the state’s economic growth is the focus on sectors like agriculture, mining, and manufacturing. The state government launched the ‘Balaram Yojana’ to offer credit support to farmers, leading to a significant increase in agricultural production. The state’s focus on mining, which saw a growth of 24.92% in the last fiscal year, and manufacturing, which grew by 6.33%, further contributed to the state’s overall economic growth.
In conclusion, despite the pandemic’s disruption of the global economy, Odisha has managed to show impressive growth, primarily due to the state government’s proactive actions, aid to businesses and initiatives taken to support major sectors. The coming years present an opportunity for the state to strengthen its economy furthermore, making it a vital investment destination for those who seek high-yield returns.
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