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
Yedi & Shoba Always to be in Media with no Reason. Why is Media promoting when BJP says Madrasa is giving rise to Terrorist. Media is blowing things out of propotion. What happend with Hemanth Karkere(HK)? Who Killed him? He was telling the news of actual terrorist in India. Hope everyone remembers what HK revealed. I dont support any of the party. But BJP did biggest blunder by doing demonitization. Just to make their money white. People please grow up. See the Petrol price HIKE happening. Why SHELL petrol does not have Subisidy? Why GST is not introduced in Petrol ? There are so many things to think about. These people play with law & order. See yeddy is so confident giving Dhamki to Police. Only god can Save us !!!
The common man of India is struggling for fulfilling his basic needs, he wants peace, he does not need leaders who divide society on caste and religious grounds and create chaos and hatred in the country.
Well said, Most of the BJP leaders are responsible to created violation.
Statistics show that more Indians have been killed by RSS than by Pakistani terrorists.
Who then is worse?
Is she a member of parliment or she a member of RSS, I havent seen any statement from shobha who has talked of development from her mouth. every time her statement is about RSS/sangh parivar, Does she deserve a MP seat? its better she owes her full time to RSS intead of being a MP. Shame on her she represents the whole constituency not only RSS AND SANGH PARIVAR TERRORISTS
what STRATERGY to DISTURB PEACE OF OUR NAMMA NADU KARNATAKA
Fact is a fact, why Amit shah is not in the group,who is the main culprit holding 14 muderes on his head
"BJP gay nachgayne Illa",
if they have little shame left all these leadres would have not come to street with head's down for their super leaders who committed the crimes,
Indirectly it shows that they confirms what Mr Siddaramaih says..!!!
"nanu BJP nanu RSS", not full
"nanu BJP nanu RSS nanu BrahminBaniaJumlaParty", better!!!
Hindus beware of Brahmin Domination in RSS, they dominated exploited non-brahmins for past 5000 years, dont let them control us!!!
All are equal in Democracy, RSS is a Rascist organisation, majority leaders are Brahmins! Dont forget!!!
Congis are ######s, they were responsible for 1984.
Bjp are ######s, they were responsible for 1992, 2002.
Indira made a political decision, bad decision BUt a political one.
Advani, Joshi, Uma bharati gave speeches in Ayodhya which started riots killing of 3000 people.
Both parties have blood on their hands.
Both need to be sacked and someone better needs to be brought in.
@Truth
Excellent question. The current vicious atmosphere is because of them
Who perpetrated 1984 anti-sikh riots? RSS?
Good decision. Please go and sit in jail.
Nanu shoba matthu yediyurappa naau bjp rss bajarang te ... r.. r ... t ect.....
Another comedy by Sho-bokka. Please try a good mimicry
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