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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May be because of infected Gomoothra
JINU...
How did U come into being... QURAN speaks on our CREATOR who created all that exits... and It asks us to use our intellectual which ALLAH has given us. I request you to PONDER on what it says...
Please read the QURAN once & research what it says... Dont just sit idle and make your own asumption. living a life of unaware... about the CREATOR will be worse than animals..
May God help them all! They are all innocents.
Devaru kotta prasada beda annbardu...! May be some sanghi poojaris' wanted to cut down cost for his selfishness. Probe needed.
May the victims recover soon!
I agree, believing blindly doesnt make sense... But God has given intellectual to human being and he created us to worship him alone... Y dont we use our intellectual to know who is worthy of Worship rather than worshiping idols and animals...
Even in vedas, it say that those who worship such things are in DARKNESS...So to come out of such DARKNESS ... the idols or man made god worshipers should try to know who is GOD and Y we need IDOLs to reach GOD...
God says he is near to any caller, there is no need keep any life less object and ask with it... in other sense U can call him by saying \O the one who put soul in me, who gave life to me ...Guide me.No doubt his help will come to those who trust him... Try it."
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