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
If he was muslim it would have been \\"\" breaking news im arnab goswamis throat.. Hypocrites dont show this.. Arresting of real terrorists."
oh namo shiva,,,, Not muslim,,, Otherwise story could be manglorean apponited to kill / carry out terror attack in Isareeel, by AL- hamas , hijbul mujahideen,,. many mnay.... Breaking news @ Times now,,,zee new,,,etc etc,,TV9,,,tonight debate with AR-nab Cow swamy.
Mangalore media shouted \Terrorist\" once Mangalorean Muslim youths carries Chakkuli, Kaarakaddi and some snacks. Here gone silent????"
#7 He came to deceive cheddis, the ways they are doing since decades...
NO NEWS SO FAR IN OTHER MEDIA....ONLY I CAME TO KNOW BY CD HERE..
IF THIS WAS HAPPENED TO MUSLIM PASSENGER, WHAT WILL BE THE REACTION FROM THE AIRPORT AUTHORITY AND THE GOVT OFFICIAL INCLUDING POLICE DEPT?????
He came to train RSS and bajarangi pepole so take care
IF MUSLIM FOUND IN SAME ISSUE EVERY NEWS WILL SAY TERRORIST ARRESTED IN MANGALORE AIRPORT.
May be he was taking those bullets to kill Palestinians....need to be investigated....
dont understand what and all this people will be smuggling, golds different case,
ohh really this guy must be crazy. as we all know powerful x ray scanner will be there.
Good work done by airport officials
When a innocent Muslim man was held at the same airport when the Sanghist authorities mistook his tab for an explosive it became an international news. now when this Israel bound passenger arrested with bullets its not at all a news for national media. what a double standard.
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