Orissa’s Finance Minister talks to B&E’s Subrat Swain about how private investments will help orissa grow
B&E: Which sectors according to you are the biggest contributors to Orissa’s GDP? Do you think that these very sectors will ensure sustainable growth for the State over the next few years?
PG: Agriculture and allied activities as well as mining and quarrying are the highest contributors to GSDP. They are followed by finance & services, manufacturing, and transport & communications. With large scale investments coming up in the manufacturing sector, naturally, its relative share is expected to rise dramatically in the coming years. The agricultural and mining sectors will also grow. We also have great hope for the services sector. But modern age manufacturing prowess remains our biggest bet.
B&E: Service industry contributes to nearly one fourth of the state’s GDP and is growing at a high 23.13%. So if we are to understand it right, despite the promises from the service industry, you have higher expectations from the manufacturing industry?
PG: Naturally, we do expect much more from the manufacturing industry due to the huge amount of investments being made in this sector. The next goal is to make Orissa a powerful manufacturing hub. However the good news we have at present is of a ‘balanced’ contribution from both these industries. And with the availability of skilled manpower, both manufacturing and service are poised for a high growth.
B&E: Which are the new sunrise industries in the State?
PG: The State will soon become a hub of mineral based industries and power plants. These will have a manifold impact upon the productivity of other industries as well, besides providing employment to a large population in the State.
B&E: How much will education play a role in ensuring the high and sustainable growth of Orissa?
PG: National level institutions and other specialised institutions are coming up in and around Bhubaneswar. The State has also become a hub of education with about 100 engineering and technical colleges.The educational institutes being set up through private initiatives are also of a very high standard. The State government is also contemplating to revamp the higher education system. An additional Secretary to Govt. Task Force has been set up for expansion of higher education in the State. All these factors would ensure availability of quality manpower.
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B&E: Which sectors according to you are the biggest contributors to Orissa’s GDP? Do you think that these very sectors will ensure sustainable growth for the State over the next few years?
PG: Agriculture and allied activities as well as mining and quarrying are the highest contributors to GSDP. They are followed by finance & services, manufacturing, and transport & communications. With large scale investments coming up in the manufacturing sector, naturally, its relative share is expected to rise dramatically in the coming years. The agricultural and mining sectors will also grow. We also have great hope for the services sector. But modern age manufacturing prowess remains our biggest bet.
B&E: Service industry contributes to nearly one fourth of the state’s GDP and is growing at a high 23.13%. So if we are to understand it right, despite the promises from the service industry, you have higher expectations from the manufacturing industry?
PG: Naturally, we do expect much more from the manufacturing industry due to the huge amount of investments being made in this sector. The next goal is to make Orissa a powerful manufacturing hub. However the good news we have at present is of a ‘balanced’ contribution from both these industries. And with the availability of skilled manpower, both manufacturing and service are poised for a high growth.
B&E: Which are the new sunrise industries in the State?
PG: The State will soon become a hub of mineral based industries and power plants. These will have a manifold impact upon the productivity of other industries as well, besides providing employment to a large population in the State.
B&E: How much will education play a role in ensuring the high and sustainable growth of Orissa?
PG: National level institutions and other specialised institutions are coming up in and around Bhubaneswar. The State has also become a hub of education with about 100 engineering and technical colleges.The educational institutes being set up through private initiatives are also of a very high standard. The State government is also contemplating to revamp the higher education system. An additional Secretary to Govt. Task Force has been set up for expansion of higher education in the State. All these factors would ensure availability of quality manpower.
Read more.....
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Prof. Rajita Chaudhuri's Website
domain-b.com : IIPM ranked ahead of IIMs
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
IIPM B-School Detail
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Prof. Rajita Chaudhuri's Website
domain-b.com : IIPM ranked ahead of IIMs
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
IIPM B-School Detail
