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
KAR-NATAKA...
:(
Most of the picture shows they are laughing also the police.. Which raises question of understanding!
Der was a statement frm our Dept regarding d stiff action. Is dis called stiff action?
Stiff action wud b a reality if scenario was different, if muslims was protest without permission.
Double standard
why laathi is not working here ??
Enough drama...Dirty politics...
Wah eth maryadeyna janaklu.. and oh my deware what a huge huge dozens of crowds.. oh my deware i cant even count how many they are :D
You foolish guys, Tippu did not destroy temples but in fact he built them and renovated them all....
In fact you destroyed babri masjid a few years back....how bad you guys are....moreover killing innocent muslims at that time and as well during modi's regime in Gujrath...bad people....
Tippu Zindabad!
How they laugh each other like children are playing. this is nothing else they know each other very well because both are chaddis.
In delhi how they drag Najeeb's mother .
well done BJP protest till end.
Kateel is a elected Member of Parliament. He should keep it in mind that all community from his constituency voted for his current position.
Every indian can protest. Then why Mr. Kateel is not participating in Muslim or Christian community protest?? Amazing
discrimination.
Wa/ Wa Master Kateel you Criminal looters thought to do some Loot Pat because of the Great Warriors Name!!!!!! Bap Ray Bap Which Part of the world you are in??? when you Criminal Looters thinking what?? we all understand you are all workless and how long you can leave this type of Life???? what you think being MP??
Never ever see like you Buffoon!!!
\Every Dog has its own day Kateelanna\"
Jai Hoo Siddanna,
Jai Hoo Parmarashwaranna."
let them do jayanthi or kabur whats the problem for u guys. please leave the place and queue up in the bank to exchange the notes.
Most of pics.. laughing each other. Protesters & Police.
conspiracy between Protesters and Police \YOU PRETEND LIKE BEATEN UP AND I PRETEND LIKE BEATING UP\""
Why police released all of this Gundas. Police should have done lati charge and put all of them behind bar under gunda act. Instead of carrying them like babies police could have beaten them with lati. Because of these anti national elements ad terrorists our india is in danger. Please punish them all including our useless MP.
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