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An Empirical Analysis of Progress and Prospects of the Economy of Odisha State of India : A Literature Review

The literature on the economy of India's Odisha State offers insightful information on the state's past achievements as well as its prospects for future expansion. The state has historically shown encouraging growth rates, according to the research that is currently accessible, although there has been a discernible reduction in growth, especially in the primary sector. Concerns are raised over the state's economic future by this. 

(PDF) An Empirical Analysis of Progress and Prospects of the Economy of Odisha State of India (researchgate.net)

The state's economy has expanded more slowly in recent years, which suggests that growth has slowed. It is anticipated that the state will continue to grow at a pace of 9.0% annually in the upcoming years, which emphasizes the necessity of inclusive and sustainable economic development plans.

The literature emphasizes that there are signs of diminishing growth in the primary sector, which has made its performance concerning. On the other hand, the tertiary sector has expanded, but the gains have not been shared equitably by the people of the state, casting doubt on inclusive development.

The state of Odisha is renowned for having an abundance of mineral resources, which have enormous economic potential. It is imperative, therefore, to guarantee that the state reaps the rewards of these resources for the welfare of its citizens. The body of research highlights how crucial it is to manage these resources in a way that supports equitable regional development and helps the local populace.

The literature also emphasizes how the state's economic growth varies by location, with some districts expanding more quickly than others. This emphasizes the need for balanced regional development and the necessity of helping districts that are lagging behind in terms of growth. Reducing these differences is essential to attaining sustainable and equitable economic growth.

The literature conveys hope in the state's chances for future prosperity despite the obstacles. To solve the diminishing growth spiral, encourage inclusive development, and maximize the potential of the state's natural resources for economic success, it highlights the necessity of focused interventions.

In summary, the literature emphasizes Odisha's potential for economic progress while also highlighting the issues that must be resolved to guarantee equitable and long-lasting prosperity. The state's mineral resources offer a chance for economic growth, but their management must be done in a way that supports balanced regional development and benefits the local populace.




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