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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aree bhai.... animals are not our parents.... Muslims dont worship animalsss... go and take all cows from your modiji's freinds who are exporting your mata to other countries..... they are in cow trafficking......
How about your uncles of Al Kabeer Beef exporter. Your for uncle is chipanjee so what we will convert as chipanji and stay in jungle.
Stop non sense and be like a human don't try to spoil HINDU religion.
Hope you and your Head quarter manage to understand above message.
I am sure that this bjp leader Ranjit has completely gone mad and it will be better for bjp to kick him out from the party. His baseless + senseless statement will lead to riot. Hence,. he shuld be arrested under terrorist / goonda act immediately. According to scientiest Darwin, human being are coming from apes / monkeys. Based on this, ancistors of this hate monger were apes / monkeys. I would like to know when this hate monger will go to jungle to stay with his ancistors. We will give nice party to him. Why this hate monger is not caring about cows which are let lose in the roads and dying due to hunger. Why dont he take care of them. He is only after the cows which muslims are taking care. As cows are his Matas, he should visit to other countries also to take care of them. Why is not bothered about hundreds of cows being slaughtered for beef export by sangh exporters in Gujrat. Why he has double standard. I doubt he is one of the beef exporters and making crores and low being expressed for cow is a jumla like his Master. Has he dare enough to agitate in front of beef exporting houses in Gujrat. He will be kicked out if he does so. Shame on you guy. Be a human being first. Live and let live others. There is limit for everything . Dont cross the limit.
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