(Last Updated on : 23-03-2009)
The economy of Jharsuguda is solely an industrial economy. Due to the concentration of economically important minerals, especially coal, in the district, quite a good number of small and large-scale industries have found a conducive environment for their growth and development. However the thriving prosperity of the industries in Jharsuguda is the corollary of the plans adopted by the Government right from the commencement of the financial years.
To prop up the economic development the District Industries Center (DIC), Jharsuguda has started functioning independently for Jharsuguda Revenue District from January 2000. Prior to this all the industrial activities of the district were looked after by the District Industries Center, Sambalpur. Primarily a promotional agency, the DIC at the beginning identified the project and entrepreneur for setting up of small Scale Industry (S.S.I.) units, issued provisional Registration Certificate to prospective entrepreneurs and recommend for loan/allotment of shed/allotment of raw material etc. for S.S.I. units. The SSI units thus set up at the basic level provide support to the hitherto shattered economy of Jharsuguda. The SSI units provide employment to a large number of inhabitants, which serve the domestic economy of Jharsuguda. Finally recommending various incentives and providing marketing assistance to the SSI units, the scope of the SSI units in the economy of Jharsuguda has been extended. However the implementation of PMRY scheme for providing self-employment to unemployed youth of Jharsuguda District and implementation of special Employment Programmes under village industries scheme for providing self-employment to rural youths of Jharsuguda District has initiated a sustainable rate of the economic development in the Jharsuguda District.
The economic genesis in Jharsuguda district has brought about by the growth of the large-scale industries centering the Mahanadi coalfields. Since its invention the Mahanadi coal belt has been serving the domestic industries by providing raw materials and at the same time involve a vast chunk of native workforce. Prior to nationalization, three underground mines were operational. In the post nationalization era the IB valley Opencast Mines were opened, which supports the operational underground mines, thereby serving the economy of Jharsuguda district. Presently the IB Valley area consists of three Opencast Mines namely Lajkura Opencast mine, Samleswari Opencast mine and Lilari Opencast mine. The underground and the opencast mines centering the Mahanadi belt contribute the major section of the Net National Income of the State.
The district of Jharsuguda is considered as one of the developed urbanized economy in Orissa.