Bengaluru, Mar 8: The economic slowdown in the country had a cascading effect on Karnataka, as its growth rate for outgoing fiscal 2019-20 is projected to be 6.8 per cent against 7.8 per cent in the last fiscal (2018-19), a senior official said on Saturday.
"The Gross State Domestic Product (GSDP) is estimated to be 1 per cent less at 6.8 per cent for this fiscal from 7.8 per cent in the last fiscal due to slowdown in manufacturing (industry) and services sectors," an official of the state finance department told media.
Though the agriculture sector has revived from 1.6 per dent in the drought-hit last fiscal (2018-19) to register 3.9 per cent this fiscal, growth rates of industries and services will be 4.8 per cent and 7.9 per cent for 2019-20 against 5.6 per cent and 9.8 per cent respectively in 2018-19.
"The GSDP is projected to grow at 6.3 per cent in the ensuing fiscal of 2020-21 due to continued slowdown in the national economy," the official hinted.
According to the state's economic survey for 2019-20, the farm sector grew more than double to 3.9 per cent from 1.6 per cent a year ago due to increase in the production of foodgrains, dairy products and fish catch.
Foodgrain production across the state rose to 136 lakh tonnes from 128 lakh tonnes a year ago, the survey revealed.
"In line with the national Gross Domestic Product (GDP) growth rate decline, Karnataka's GSDP has declined from a high of 13.3 per cent in 2016-17 to a low of 6.8 per cent in 2019-20.
"The GSDP has declined from a double-digit growth of 10.8 per cent in 2017-18 to 7.8 per cent in 2018-19 and 6.8 per cent in 2019-20," the survey pointed out.
The survey has adopted the all-India growth rate for the services sector growth in the state, which reflects the impact of slowdown in the key sector.
At current prices, the southern state's GSDP is expected to be Rs 16,99,115 crore (budget estimates) with a 10 per cent growth rate in the next fiscal (2020-21).
"Real estate, professional services and ownership of dwellings contributed 35.31 per cent to the GSDP in 2019-20, followed by manufacturing with 15.32 per cent, trade and repair services 9.51 per cent and crops 7.44 per cent," said the survey findings.
Per capital income in the state at current prices is estimated to be Rs 2,31,246 in 2019-20, an increase of 8.8 per cent from Rs 2,12,477 in 2018-19.
"The per capita income in the state is 58.4 per cent more than that of all-India rate at Rs 1,35,050 in this fiscal," the survey added.
Comments
Bajrang Dal still exist in Mangalore because majority of followers are monkeys. They just goes with stupid and illiterate people without questioning their background. Most of Bajrang Dal leader either ex-ladies bar owner or conductors.(uneducated or criminals).
Monkey Dal gathered together to discuss their own created issues. They have nothing to discuss other than children's plays.
It's funny how these activists say a lie so many times and make it appear like the truth..I'm ashamed to call them hindus..because I have amazing Hindu friends (whom I believe are true hindus). Love jihad? What rubbish!this shows how much you cook up stories. Dont waste money on unnecessary programmes. Donate it to poors..so many are in need of money. Btw don't think muslim men are jobless. there are enough pious muslim girls in our country whom they can get married to. We are not in shortage.
Also need a discussion regarding hiring muslims in all job sectors across karnataka
Tigale gant marilu....bhoomig bhara
Mangalore was peaceful for quite sometime.....now again goons became jobless I hope.... smart city ... developments all gaya bhaad me...
Gaaf me dhum hai to try to stop your girls or punish them...your.people will throw you in garbage.....try that way.....
Discuss right now LOVE JIHAD founder is sitting in front of you (CHOTE MIA)I dont remember his name sitting on your extreme left. Why to spend Money start now itself.
Fake People.
I could not understand why these waste and burden to earth... hate mongers are talking on love jihad time and again whereas such issue does not exist in reality, but exists only in the mind and agenda of sangh parivar. This is to fool people and gain political benefit. Love Jihad is not a concept in any religion, particularly in Muslims and this is a fake + man made concept by sangh parivar. We, the peace loving people of karnataka should oppose and raise against these hate mongers.
After a long period of rest, culprits are back to trouble. Peace loving Mangalorean be careful and be happy with your family.
Indians in india cant eat beef but indian beef can be eaten in other parts of the world....what a joke....
Bajrangies go and stop exporting if you have got ba**s....
Jihad means a spiritual struggle within oneself against Sin.
Prophet Muhammad pbuh. taught us...
Alcohol destroys U and your family life
Gambling destroys U and your family life
Interest destroys U and your family (It may give a temporary enjoyment of the money lend to U by banks but in long term when U see most of the people have become BANKRUPT...
(Look Mallya - Whatever he owns did not benefit him...one day U will c the real color).
Quran says Trade is acceptable but not Riba (Interest).
True Muslims strive hard NOT TO involve in such evils of the society & They strive to stay away from these sins and also other such things in life...
God promises to give more when we follow his commandments ... it is not just for muslims but it should be recognized by the whole of mankind..
Most of the People are just listening to the ISLAM-HATERS and judging without verifying. But the CREATOR of all that exists asks us to use our INTELLECT and Verify before You come to any conclusion of any matter in your LIFE... if not YOU will be regretting later...
Love Jihad is fake and a creation of cheddi and its allies..who wants to spread corruption in the society.
Wonderful decision by wonderful lads of Bajji and Ranjjis, what you mean of \Cow Trafficking\" at present I am in HONG KONG really fantastic INDIAN BEEF Avails here, no problem at all, so these wonderful Tidy Bear??? Master Hamarappa Puranik only Barking, If he IS having GuTs, Strength let him ask Indian Prime minister Modianna, to Cancel Exporting Licence that is the Gentleman's work Keeping some Chelas around catching Labour, Driver, Butcher, Cleaner like humans.. they are catching and punishing that's women's work Annanna, come front line and catch real culprits.
NAREAN Bai where are you Sir?? Are you Near by !!!!! Keep it up Baisabb."
1) U have forgotten most important issue..... ban exporting of beef and find out how many of your goons are into this business....
2) At the right age with out if girls are married off, issues of love marriage maybe solved
3) drugs ok.....go ahead, nice step
For such matters press meet is not necessary, can be discussed within yourself
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