State Studies · Odisha
Economy of Odisha
Overview
The economy of Odisha is one of the fastest growing economies in India. According to 2023–24 economic survey, Odisha's gross state domestic product (GSDP) was expected to grow at 10.57%. Odisha's economy is now an industrial and service-based economy, with 79% contribution all-together to state GSDP while primary sector contribution to state GSDP is about 21%.
Source: Wikipedia — Economy of Odisha (CC BY-SA)
Key concepts
How Economy of Odisha connects to the ideas, people and events around it.
India, officially the Republic of India, is a country in South Asia. It is the world's seventh-largest country by area and its most populous.
Odisha, spelled Orissa until 2011, is a state located in eastern India. It is the eighth-largest state by area, and the eleventh-largest by population, with over 41 million inhabitants.
Foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country.
The Indian rupee is the official currency of India and the erstwhile Dominion of India and British Raj. The rupee is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India.
A crore (; abbreviated cr) is a quantity of ten million (10,000,000 or 107) in the Indian numbering system, equal to 100 lakh. In the Indian convention of digit grouping, it is formatted 1,00,00,000.
The United States dollar is the official currency of the United States (U.S.) and several other countries. The U.S. Coinage Act of 1792 established the dollar as the base unit, with each dollar divided into 100 cents. U.S.
1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001. With a number, "billion" can be abbreviated as b, bil or bn.
The Reserve Bank of India (RBI) is the central bank of the Republic of India and the regulatory organisation for the Indian banking & financial system and Indian currency.
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Questions about Economy of Odisha
What is Economy of Odisha?
The economy of Odisha is one of the fastest growing economies in India. According to 2023–24 economic survey, Odisha's gross state domestic product (GSDP) was expected to grow at 10.57%. Odisha's economy is now an industrial and service-based economy, with 79% contribution all-together to state GSDP while primary sector contribution to state GSDP is about 21%.
What are the key concepts related to Economy of Odisha?
The main concepts connected to Economy of Odisha include India, Odisha, Foreign direct investment, Indian rupee, Crore, United States dollar, 1,000,000,000, Reserve Bank of India. Each is linked on the map above with its own summary.
Which exams cover Economy of Odisha?
Economy of Odisha is part of State Studies, which appears in the syllabus of OPSC, OSSC.