Economy
For the past six decades, Rayagada has seen institutions like IMFA, JKPAPER mills enriching the economy.
Rayagada has a great mineral source, with full of bauxite, silicon. According to a survey India has 56% of total bauxite storage of the world out of which Orissa has 62%. Out of that Rayagada has a 84% share. Depending on this, other industries like Birla, L&T, Sterlite showed an interest in Rayagada.
Rayagada is a destination for hotel industry: Hotels like Sai International, Jyotimahal, Vamsikrishna, Tejaswini, Kapilas, Raj Bhawan are a step ahead in this.
Besides these, small- and mid-scale industries enrich economy of Rayagada. Notable among them are Konark Alum Industries, Satyam Packers and Processors Pvt. Ltd.,etc.
Other industries like Jeypore Sugars Ltd., ferro manganese were supplementing economy of Rayagada, but due to shortage in supply these were closed. The jeypore sugars was established by the British which attracted loads of people from nearby states to Rayagada. The industrial atmosphere, great location and availability of resources around made Rayagada a prominent town in Orissa.
In 2006 the Ministry of Panchayati Raj named Rayagada one of the country's 250 most backward districts (out of a total of 640). It is one of the 19 districts in Orissa currently receiving funds from the Backward Regions Grant Fund Programme (BRGF).
Read more about this topic: Rayagada District
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)