Page 6 - Odisha Economy

Odisha clears 19 investment projects worth Rs 3,663 cr; to employ 13,500

The Odisha government on Saturday approved 19 investment projects worth Rs 3,663 crore. These projects, approved during a meeting of the State Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of Chief Secretary Pradeep Kumar Jena, are expected to generate employment for over 13,500 people, an official statement said. The EPIC Group, a Hong Kong-based apparel manufacturer renowned for serving some of the world's leading brands, is poised to bolster foreign direct investment (FDI) in Odisha, it said. Trimetro Garments India Pvt Ltd, a subsidiary of the EPIC Group, is planning to invest Rs 376.85 crore for the establishment of its apparel manufacturing facility in Khurda district, it said. The state government has approved proposals of several steel companies including Nezone Steel Utkal LLP, Advance Steel Tubes Limited, Nirmal Steels Private Limited, Rungta Mines Ltd, Ferro Tech India Pvt Ltd, and Super Sonic Logistics Pvt Ltd. Collectively, these companie

Odisha investing significantly to augment power infrastructure: CM Patnaik

Chief Minister Naveen Patnaik on Saturday said the Odisha government was investing significantly to augment the power generation and distribution infrastructure in the state. Addressing a function in which 412 candidates joined the state-run Odisha Power Transmission Corporation Ltd, Patnaik said reliable power supply is an indispensable entitlement of every citizen, and a basic ingredient of growth. "We must work for ensuring quality uninterrupted power supply to our consumers, farmers and industries," he told the recruits. Stating that his government has adopted the '5T initiative' to transform governance, Patnaik asked them to follow its mantra of teamwork, technology, transparency, time and transformation. "We will definitely achieve our goal of providing quality, secure and reliable power to all the people of Odisha," he said Among those who joined the OPTCL, 161 are electrical engineers, 54 office assistants and 197 electrical technicians. Lauding OPTCL for its works, Patna

First phase of Odisha metro rail project to cover 26 km, have 20 stations

The first phase of Odisha's proposed metro rail project will cover a distance of around 26 km and have 20 stations, according to the DPR submitted by the Delhi Metro Rail Corporation (DMRC). Chief Minister Naveen Patnaik had sanctioned the project on April 1, 2023. The first phase will connect Bhubaneswar airport to Trishulia in Cuttack. The DMRC submitted the detailed project report (DPR) to Chief Secretary P K Jena on Wednesday, officials said. The DPR was completed after conducting traffic survey, geo-technical investigation, topographic survey, environmental and social impact assessments, they said. The project will be later extended to Khurda, Puri and other areas of Bhubaneswar and Cuttack city, the officials said.

Odisha EOW detects 'rarest' QR code scam of Rs 14 cr, hints at Chinese link

The complainant had alleged that they had entered into Technology integration agreements with the Directors of Noida-based Company Payone Digital Services Pvt Ltd during April-May 2023

Odisha govt confident public debt to stay within limit of 25% of GSDP

The debt level of Odisha is now within the stipulated limit and it is expected to increase by 4% by the end of financial year 2026-27

Over 62,016 ha forest land diverted, 1.95 mn trees cut for Odisha projects

Odisha, one of Indias most natural calamity-prone states, has diverted 62,016 hectares of forest land and 19.50 lakh trees have been cut down for non-forestry purposes till 2022

Odisha approves 5 projects worth Rs 35,760 crore, to generate 38,100 jobs

Odisha Chief Minister Naveen Patnaik on Saturday approved five industrial projects worth Rs 35,760 crore which would generate employment for 38,100 people, an official said. The five projects got the nod at the meeting of High-Level Clearance Authority (HLCA) headed by Patnaik. The state government is working towards converting the investment intents received during Make in Odisha Conclave 2022 into ground reality. The approved projects are spread across diverse sectors like IT & ESDM /green energy equipment, steel, chemicals and textile. The proposed projects will be set up across various parts of the state like in Bhadrak, Dhenkanal, Jagatsinghpur, and Keonjhar districts, the official said. The committee has given a go-ahead to two projects in the steel sector, one project in green energy and equipment, one project in the chemicals sector, and one project in technical textile sector. The HLCA approved the proposal of WAREE Energies Limited, entailing an investment of Rs 25,000 .

Revamp of Credit Guarantee Scheme, limit on ceiling for guarantees enhanced

With a view to revamp the Credit Guarantee Scheme for Micro and Small Enterprises, Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) issued guidelines regarding reduction of annual guarantee fee for loans upto Rs 1 crore from a peak rate of 2 per cent per annum to as low as 0.37 per cent per annum.

Odisha approves 25 projects worth Rs 5,800 cr in various sectors

The Odisha government on Saturday approved 25 projects with a cumulative investment of Rs 5,827.27 crore which would generate employment for over 25,000 people, an official said. The Odisha government's nod to the projects under different sectors was accorded at the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Chief Secretary PK Jena. The meeting also recommended three large projects with an investment value of around Rs 28,000 crore and employment opportunities for around 19,000 people, to the High-Level Clearance Authority (HLCA). Out of the multiple investment intents garnered during the Make In Odisha Conclave 2022, 16 projects were put up for approval in Saturday's meeting, the official said. The approved projects are set to be set up in districts like Khurdha, Cuttack, Jajpur, Jagatsinghpur, Mayurbhanj, Sundergarh and Bhadrak. The SLSWCA approved three projects in the plastic sector, which reflect a total investment of Rs 392.10 crore, at Malipad

Make in Odisha conclave generates investment proposals of Rs 10.5 trillion

Odisha Chief Minister Naveen Patnaik said the Make in Odisha Conclave 2022 had been a great success

Odisha to offer Rs 5 lakh interest-free loans for women SHGs from April

Odisha Chief Minister Naveen Patnaik, in a bid to boost the state's 'Mission Shakti' scheme, has announced that his government would hike the upper limit for interest-free loan provided to self-help group members from Rs 3 lakh to Rs 5 lakh, starting April next year. Describing the move as "revolutionary, Patnaik on Tuesday said women can now set up small and medium enterprises (SMEs) or even launch big businesses. The Mission Shakti movement in Odisha seeks to empower women self help groups (WSHGs) by encouraging the members to take up various socio-economic activities. Noting that women have always been a driving force for transformation of Odisha, Patnaik said that this new decision will also promote local economy. Odisha has six lakh WSHGs, with 70 lakh women as members An official release issued by Patnaik's office said that the state government provided over Rs 17,000 crore as loans to Mission Shakti SHGs in the last 5 years.

Odisha govt disburses Rs 43 crore to poor dependent on Kendu leaves

The Odisha government on Sunday disbursed assistance to the tune of Rs 43 crore to kendu leaf pluckers, binders and seasonal employees. Chief Minister Naveen Patnaik on Saturday wrote to Union Finance Minister Nirmala Sitharaman, urging the Centre to withdraw 18 per cent GST on kendu leaf trade as it is linked to the livelihood of poor people. The money was given out at a function as part of the state government's special package for the poor people engaged in kendu leaf trade. As a part of the package, Rs 1,000 was given to each kendu leaf plucker, and Rs 1,500 to each seasonal staff and binders in the first phase as an interim measure, an official statement said. Kendu leaf is used to wrap bidis, and is one of the significant forest produce on which about 8 lakh people have a right for their livelihood. Though the people of 12 districts got the assistance, those belonging to Baragarh will get it after the Model Code of Conduct imposed for the December 5 bypoll to Padampur assemb

Start-up Odisha growth fund gets Rs 1,000 cr commitment, disbursal in 5 yrs

Flags off Hall of Fame 2.0 with TiE Bhubaneswar

Odisha emerging as leading destination for industries: CM Patnaik

Odisha is in a "take-off" stage and will witness a high growth in the next 10 years, Chief Minister Naveen Patnaik said

Odisha Cong MLA alleges heckling by security at Women's World Cup stadium

Veteran Congress MLA Suresh Routray alleged that he was heckled by security personnel at the Kalinga Stadium in Bhubaneswar when he went there to watch the opening ceremony of the FIFA U-17 Women's World Cup. Routray, a six-time legislator, blamed Chief Minister Naveen Patnaik for the insult meted out to him. He alleged that a foreign security guard misbehaved with him, even though he produced a pass provided to him as he is the president of the Khurda district athletic association. "The Odisha government issued a pass to me. The security guard not only misbehaved but shoved me by holding my arm near the gate," he told reporters after the incident on Tuesday. "I was really hurt. Had it not been my state, I would have shown him my ability. I did not make any noise because an international event was going on in my state and my city," Routray said. He said that some local police personnel, on spotting him, invited him to the stadium but he was too hurt over the incident because of wh

Naveen Patnaik urges industry to invest in Odisha ahead of flagship summit

The conclave, which is being organised after a gap of four years, will be held between November 30 and December 4 in its third edition

Odisha govt hikes sports budget to Rs 911 crore to amp up infrastructure

Under this Rs 911 crore sports budget, an amount of Rs 719 crore is provided for the development of sports and youth services and other sports infrastructure in the state

Odisha CM Patnaik launches 13 industrial projects worth Rs 1,218 cr

Odisha Chief Minister Naveen Patnaik on Friday inaugurated three industrial projects and performed ground-breaking of 10 other projects involving total investment of Rs 1,218 crore.

Odisha records robust growth rate of 47% in state GST collection

The successful auction of iron ore mines last year by the state government contributed significantly in increasing the tax revenue this year

Odisha records 43% growth rate in GST collection during December 2021

GST collection of Odisha has touched a collection of Rs 4080.14 crore during December 2021 as against Rs 2860.20 crore collected during December 2020 registering a growth of 43 per cent.