Makarajhola is a village and a gram panchayat in Ganjam district in the Indian state of Odisha. As of the 2011 census in IndiaNPR Report. Censusindia.gov.in. Retrieved on 2013-11-16. Makarajhola had a population of 5,436 . Males constitute 51% of the population and females 49%. It is part of Aska (Lok Sabha constituency).
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