{"id":11732,"date":"2024-06-14T15:07:44","date_gmt":"2024-06-14T15:07:44","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=11732"},"modified":"2024-06-14T15:07:44","modified_gmt":"2024-06-14T15:07:44","slug":"the-states-economy-grew-by-5-72-faster-than-the-national-economy-of-5-01-during-the-period-from-financial-year-2012-13-to-2020-21","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/the-states-economy-grew-by-5-72-faster-than-the-national-economy-of-5-01-during-the-period-from-financial-year-2012-13-to-2020-21\/","title":{"rendered":"The States Economy grew by 5.72% faster than the national economy of 5.01% during the period from financial year 2012-13 to 2020-21."},"content":{"rendered":"<p>The size of the State <a href=\"https:\/\/exam.pscnotes.com\/economy\">economy<\/a> has increased from ` 4 lakh crore in 2016-17 to `4.25 lakh crore in 2017-18 and `5 lakh crore in 2020-21 and nearly `6 lakh crore during the current financial year, sources said.<\/p>\n<p>Similarly, the State Budget has also increased from `95,000 crore in 2016-17 to over `1 lakh crore in 2018-19 and `1.39 lakh crore in 2019-20 and `1.5 lakh crore in 2020-21.<\/p>\n<p>Despite the Covid-19 pandemic, the size of Annual Budget of Odisha in 2021-22 has increased by around 26% to `1.70 lakh crore. The public  has also gone up even at a faster rate.<\/p>\n<p>On September 17, Chief Minister Naveen Patnaik had said the State economy is bouncing back from the adverse impacts of the pandemic and is back to track.<\/p>\n<p>Investors are expanding their existing projects in Odisha in spite of the impact of Covid pandemic. We have attracted investments to the tune of over Rs 4.5 lakh crore since <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n           <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>  <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> the pandemic, the CM said.<\/p>\n<p>The State has been consistently generating surplus revenue and containing <a href=\"https:\/\/exam.pscnotes.com\/fiscal-deficit\">Fiscal Deficit<\/a> within the Fiscal Responsibility and Budget Management (FRBM) limit. The States GST collection in July this year also registered a 54% <a href=\"https:\/\/exam.pscnotes.com\/growth\">Growth<\/a> over the corresponding period of the previous year.<\/p>\n<p>In spite of the Covid-19 restrictions, the State recorded a growth of 72% in revenue collection till August 31 of the current financial year 2021-22. The State has collected revenue worth Rs 31,198.58 crore from various sources by the end of August while the collection during the same period of 2020-21 was Rs 18,149.38 crore.<\/p>\n<p>The revenue generation from own-tax sources grew by 32.64 and the non-tax revenue increased by 130.44% by August 31. The expenditure of the State has also gone up by 27.72% by August 31. The total expenditure till end of August was Rs 40, 299 crore whereas the total expenditure up to the same period of last fiscal was Rs 33,769.84 crore.<\/p>\n<p>Similarly, the debt stock of the State by the end of July 2021 stood at 17.6% against the FRBM limit of 25%.<\/p>\n<p>The capital outlay is budgeted at Rs 25,788 crore, around 15% of the total budget of 2021-22, the sources said..<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The size of the State economy has increased from ` 4 lakh crore in 2016-17 to `4.25 lakh crore in 2017-18 and `5 lakh crore in 2020-21 and nearly `6 lakh crore during the current financial year, sources said. Similarly, the State Budget has also increased from `95,000 crore in 2016-17 to over `1 lakh &#8230; <a title=\"The States Economy grew by 5.72% faster than the national economy of 5.01% during the period from financial year 2012-13 to 2020-21.\" class=\"read-more\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/the-states-economy-grew-by-5-72-faster-than-the-national-economy-of-5-01-during-the-period-from-financial-year-2012-13-to-2020-21\/\">Read more <span class=\"screen-reader-text\">The States Economy grew by 5.72% faster than the national economy of 5.01% during the period from financial year 2012-13 to 2020-21.<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1101],"tags":[935],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The States Economy grew by 5.72% faster than the national economy of 5.01% during the period from financial year 2012-13 to 2020-21. - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/the-states-economy-grew-by-5-72-faster-than-the-national-economy-of-5-01-during-the-period-from-financial-year-2012-13-to-2020-21\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The States Economy grew by 5.72% faster than the national economy of 5.01% during the period from financial year 2012-13 to 2020-21.\" \/>\n<meta property=\"og:description\" content=\"The size of the State economy has increased from ` 4 lakh crore in 2016-17 to `4.25 lakh crore in 2017-18 and `5 lakh crore in 2020-21 and nearly `6 lakh crore during the current financial year, sources said. Similarly, the State Budget has also increased from `95,000 crore in 2016-17 to over `1 lakh ... 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Similarly, the State Budget has also increased from `95,000 crore in 2016-17 to over `1 lakh ... 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