Central Government/Public SectorProject Information Strengthening State Capability Of Odisha For Resilience (Sscor) (P175811). $ 14.52 Cr $ 145.26 Mn
PID : 61319 Orissa (Odisha)-India

Project Detail:

In India, the growth rebound in FY21/22 was quick, pulled up by investment, recovering consumer demand and, a low base. Real GDP growth moderated from an average of 7.4 percent during FY14/15-FY18/19 to an estimated 3.7 percent in FY19/20[1], mostly due to (i) shocks to the financial sector, and (ii) decline in private consumption growth[2]. Against this backdrop, the outbreak of COVID-19 had a significant impact, with real GDP contracting by 6.6 percent in FY20/21[3]. On the fiscal side, the general government deficit widened significantly in FY20/21, owing to higher spending and lower revenues[4]. However, with the easing of Covid-19   restrictions, Goods and Services Tax (GST) collections have crossed the INR 1 trillion mark every month since July 2021, reaching as high as INR 1.67 trillion in April 2022. The robust GST revenue collections are expected to continue as the economic recovery gathers momentum. The real GDP in FY21/22 expanded by 8.7 percent and exceeded the FY19/20 level, on the back of increased capital expenditure by the government and recovering consumer demand. Given the global concerns on significant uncertainty around the pandemic, elevated inflation, geo-political tensions, and extended supply disruptions, growth in FY22/23 is expected to be 7.5 percent[5]. The expected recovery will put India among the world’s fastest-growing emerging economies over the next two years

Total Operation Cost 145.26 USD million

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