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.
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The MP has said the truth. The truth hurts a lot to you guys isn't it ?
Prashanth, must arrest those who said Bharath ki barbadi. but you want to know who shouted that slogan. Those are so called nationalist RSS. Who are real enemy of this county whom Anant belongs.
Mr. Yogesh, You do not know about ISLAM. It teaches peace not terrorizm. Some nonsense people do all those explosion and put the name on ISLAM. So I request you to study well about ISLAM and give your opinion about Mr. Ananth Kumar Hegde.
Good Luck
Yogesh,
Can you shout slogans loudly at Central Maidan ASATHYAMEYA JAYATE on behalf of RSS MP Ananth Kumar??????????
Put him Gontanama Jail
Yogesh, if I agree what you said is right then that means am a biggest fool in the world....there are many RSS leaders when they open their mouth shit comes out of it...do you agree with what they say....common prove what kind of terrorism muslims got in to in India...nothing...if you talk about RSS the way they created terrorism...that is enormous and yes they did it many times in India...forget it what those Pakistani terrorists did to our country and for that Indian muslims are not responsible and dont support it at all.
book him under gunda act.
It is good action. No body is above the law. Either he may be hindu, muslim or Christian, no one has the right to degrade any community . He is a MP and he has more responsible than the normal man. He is a MP for all not only for his organization.
He has to be sent to jail. Satyameva Jayathe.
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