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
With this 10 crores what are they supposed to do ? It does not work out to them.
WHAT is wrong when our ELECTED LEADERS celebrate the DIAMOND JUBILEE OF VIDHANASOUHDA..KARNATAKA PRIDE.... people /kanadigas must be PROUD of...as any one ask when Political leaders visit and crores are spent...what will be the cost ot HUGE PARTY of 75000 bike riding from all over KARANTAKA..do you think bike owners will participate without benefit.... what kind of TRAFFIC MESS WILL BE THIS... is this not MONEY... We people must consider celebration of any KARNATAKA PRIDE with out leaders...
Whether the Secretariat has heeded to CM's advice? and "..... With this, the plan to gift expensive items to the lawmakers during the celebrations has been dropped." Is it only for the time being and will they get the gifts later on in their office in a "Low Key affair" where nobody will come to know.
Aiyoo swami. Navu irode heege. Foriegn tripu (to study foriegn culture and system and implement in Karnataka), Vidhan Souda habba, seperate religion for lingayats, seperate flag for Karnataka etc etc. All these things must be done by CM and MLA's only. Otherwise the public will get angry that they have voted for non-performers. No other Govt has even thought about this. Great. Really great. Before next election, Siddu, please plan another foriegn trip along with your ministers and MLA's to study the road in developed countries. Ram Linga, neenu England di ge hogi, Scotland Yard police salehe togoli Gouri Lankesh killers na hege hidiyodu anta. Good chance to make a foriegn trip. Nobody will question. Book now. Family noo karkondu hogi. You cannot eat the food there. Your wife can make Jola da rotti with olle mosaru. Bombatu trip. If you have some other plan, then do not take your wife. Alli bread sigute.
Udaya Kumar chennagi helidiri. Innondu maatu. All these at the taxpayers money. Lancha hodiyodu allade kittu kondu tinnodu. Naachike illa ivarige.
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