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
We pray to ALLAH, for your quick recovery
May ALLAH Help you
All the best Mr. Bava!
Bawa ka Eer daane mool?
Yaan moole Yereg aauwuye kiri kiri Car d popina
Mool ragaale ijji selfie geppuni jappuni hahaha.......
Whatever may people say.... Mr. Moideen Bava is able bring a lot of money from state govt or central govt. to his region...and works are in progress. I am not aware of much in politics, but Bava's smiling Photos we can see everywhere (especially in Krishnapura)...and he is a happy man. His smiling face even in the hospital is some thing explains what is \Moideen Bava\". I pray for a speedy recovery. Let him learn more and take interest in helping all poor people of his region whatever may be their religion (Hindu, Muslim, Christian....all.)"
KEEP HOPE ON ALMIGHTY AND HE WILL PROTECT YOU FROM ALL OBSTACLES AND HINDRANCES BY PROVDINDG SERVICES TO THE PEOPLE HONESTLY.
WISH U SPEEDY RECOVERY.
Oh we can see comments from tolerant guys here..
We wish you a speedy recovery bhai.. May Allah protect you and all muslims from all evils.
our prayer are with u MR Bava u have done very good work for surathkal blessing from poor people is always with u
GET WELL SOON
Moideen Bava a Great Personality !!!!!!!!!!! u got 100 crores people blessing.
all goes well, praying for u always.
get well soon bava ji...
our MLA moideen bava we are proud to have u here in our constituency. we expect more good work from your side, for that u have to be healthy and smart. praying always for u, get well soon, will try to visit hospital.
Big Fraud !!!!!!
nobody can do anything to bava as far as we are there, look like bjp is jelousy on bava, may be their is hand behind of this incident
Really sad to hear this, get well soon bava we are with u, u have done very good development work in our locality. we are always kind to u.
ohhh really tragic incident look at the car... praying for speedy recovery of bava kaka.
just missed !!! next time bava be careful :).
ohh bava!!! allah is always with u... people's dua will save u always from all the incidents, keep the good work up, Please careful next time, change the driver soon,
our prayers are with u bava, u have done very good work in surathkal locality, poor people's blessing is always with u, get well soon
Avoid Hitting a pedestrian, pedestrian kathe govinda.
Rash driving caused this accident, Moideen Bava Should be charged.
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