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
what you know about HAJJ, first you try to learn your religion man you maron...you know in veda says there is no image of GOD, dont follow donkey, follow hindu scripture, first of all dont know what is hindu religion and goes to show finger on MUSLIM, look at you face in mirron and ask yourself do you following GODs religion or Devil religion...who is your god bootha or pure GOD.
dont act like maron of hindu community, think before comment, any thing happens to hindu then they blame muslim, what a joke,,there is saying that 80% dogs are worried about 14% lion in forest..haha
yo naresh, first try to learn veda the hindu scripture. which says there is no image of god..if you follow poojari then go to hell, who told muslims are not allowed, did you went any time to masjid to see how it is operated. you maron always behind bar and worship stone, how will your brain develop..first try to become good hindu then you can point muslim.
In most of the masjids having seperate place for woman also... better at least provide seperate way for hindu woman in temples to avoid mingling .... above judgement is on internal issue of hindu custom issue , why dragging muslims to it ?
According to North states' people and BJP people, there is a chance of flood again in Kerala, becuase SC challenged GOD. Those north state fools said that Kerala Flood was aftermath of Sabarimala verdict. Even RBI official backs the statement
Actually 99 percent of women in Kerala following the rule. They are waiting for their turn. Its like hajj. You people wont understand that. Some fools filed petition in order to destroy Hindu religious customs and traditions and muslim lawyer advocated for that. Now everything perished
Silly issue got more hype.
All bloody activists wants to destroy Hindu religion thats it. They won't raise voice against inequalities in Islam. They won't question their customs.
So called activitsts not protesting against inequalities among muslims. Why muslim girls cant enter in to mosque for offering namaz. Why they have seperate one.
Gender equality won
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