Business Opportunities in Odisha (Orissa)

Business Ideas for Bhubaneswar, Cuttack, Rourkela, Brahmapur, Sambalpur, Puri, Balasore, Bhadrak, Baripada, Jharsuguda, Bargarh, Dhenkanal, Barbil, Angul, Jajpur. Business Opportunities in Odisha (Orissa).

100 Business Opportunities in Odisha (Orissa)

Odisha is the land where legendary emperor Ashoka gave up his blood-seeking thirst for power and took to ascetic life. Known for their love for pakhala (rice fermented in water), there is a rice institute in Cuttack, home of Netaji Subhash Chandra and home of the original ‘Dahi bara aloo dum’ (fried lentil dumplings in a curry-curd mix).

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It is surrounded by the states of West Bengal and Jharkhand to the north, Chhattisgarh to the west and Andhra Pradesh to the south. Odisha has a coastline of 485 kilo metres along the Bay of Bengal. The region is also known as Utkala and is mentioned in India’s national anthem. Earlier, Cuttack was made the capital of the region by Anantavarman Chodaganga till the British era until 1948. Thereafter, Bhubaneswar became the capital of Odisha.

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Map of Odisha

Economy

Expenditure for 2020-21 is estimated to be Rs 1, 50,000 crore, an 11% increase over the revised estimate of 2019-20. The revised expenditure for 2019-20 is Rs 4,000 crore (2.9%) lower than the budgeted estimate. Fiscal deficit for the year 2020-21 is targeted at Rs 17,878 crore (3% of GSDP). In 2019-20, as per the revised figures, the fiscal deficit is estimated to decrease by Rs 693 crore to 3.41% of GSDP, as compared to the budgeted estimate of 3.49% of GSDP. The budget estimates a revenue surplus of Rs 9,509 crore (1.6%) in 2020-21.

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Odisha’s economy is consistently growing at a higher rate compared to the national growth. During the last seven years, the average growth of Odisha has remained about 8% compared to national average of about 6.9%. In spite of a slowdown in the global and national economy, Odisha’s economy is expected to grow at the rate of 6.16 per cent in 2019-20 well above all India growth rate of 5%.With the policy of the State Government to promote industries and higher investment in the infrastructure sector along with a focus on the social sector, the State economy is estimated to grow in the range of 7% to 7.5% during 2020-21.

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To increase fish productivity and production a provision of Rs.16 crore has been proposed for development of Brackish Water Aquaculture, Marine Fisheries, Intensive Aquaculture and Inland Fisheries. An allocation of Rs.60 crore has been proposed to support Farmers’ Producers Organizations (FPOs) in the field of agriculture and allied sectors, food processing, warehousing and logistics sectors.

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Ease of Doing Business

District Industrial Centers (DIC) shall act as the nodal agency for promotion of MSME in the State Single Window Clearance & Online Combined Application Form (CAF) to facilitate time bound clearances to investment District Level Single Window Clearance Authority shall assess & recommend the requirement of landThe DICs shall be strengthened and revitalized to eliminate the existing bottlenecks and facilitate smooth functioning to address the needs of the investors.

Online disbursement of incentives mechanism shall be developed and the applicable incentives shall be disbursed in time bound manner An online platform shall also be facilitated for the investors to lodge grievances. A team at the state level headed by the Secretary, MSME Department shall monitor all the grievances lodged, and the action taken on the grievances.

Project Opportunities/Investment in Orissa:-

Niir Project Consultancy Services (NPCS) is a group of engineers, planners, specialists, financial experts, economic analysts, and design specialists with extensive experience in the related industries. NPCS provides various services and the books and project reports by NPCS are widely popular; many Industrialists and Entrepreneurs have taken benefit from the project reports provided by NPCS not only in India but worldwide. All the project reports cover the detailed aspect of business, from analyzing the market, confirming availability of various necessities such as Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, etc.

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