Economic Analysis of Odisha, India

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Economic Analysis of Odisha, India

CHAPTER 1 INTRODUCTION

Orissa is overwhelmingly a horticultural state where almost seventy for every penny of the working populace relies on upon farming. The state has almost forty for every penny of Scheduled Castes (SC) and Scheduled Tribes (ST) populace, which together make 9.78 million, separated from the individuals having a place with the Other Backward Castes (OBC). The state is rich in mineral assets. It has 5,428 million tons of iron mineral store which is one-third of the aggregate iron-metal stores of the nation. One-fourth of the coal store of the nation is in the state, notwithstanding 98 to 99 and 63 percent of chromites and bauxite stores individually. Moreover, the accessible base incorporates water in bounty, power at a shabby rate, 480 kms of coastline with one expansive port at Paradip and two proposed ports at Dhamra and Gopalpur.

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Odisha, some time ago called Orissa, being an agrarian economy is extraordinarily well in mechanical development in addition to different states in India. Odisha’s businesses are basically mineral based and hold 10% of aggregate limits of the country. Odisha has copious common assets and a vast coastline. It contains assets like coal, iron metal, bauxite and chromite. It gets interests in steel, aluminum, power, refineries and ports.

The industrial structure of Odisha consists of four main categories:

  1. Medium industries
  2. Cottage industries
  3. Large scale heavy industries
  4. Large scale industries

The large scale, medium and large scale heavy industries include: cement industry, aluminum industry, fertilizer industry, chemical industry, agro-based industry and aeronautical industry.

The state is also rich in forest resources being an agraraian economy. Cottage industry includes: sericulture industry, sugar mills, cotton textile mills and rice mills.