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
Police busy in protecting cows.....
Saudi Arabia is the peaceful country than Our India. Why?
Because Islamic rule is there.
Exactly jeevan ...they are taught to slit the throat in the name of festival .so their No's are always high in slitting the throat of nation ( anti national activities )...soon. It will back fire ..and also back firing ....Israel showed the model ...Myanmar replicated ....now Americans duplicating it ...we Indians who are proud to say bharat mata ki jai must follow Israelis ...nobody shoeing sympathy for pellet gun attack except sicular and ummah gang ...it shows everything
@jeevan...
My dear we are doing animal slaughter to eat only....
You are also doing human slaughter even today killing women and children and sacrificing for maa kaali and other gods...correct your wrong number first...cow slaughter or eating wa
@ Jeevan # 9
We can say in other words,
Animals are valued over human.
Like you is nt it faizhal Bhai ......haha...enree innu Dana kadilikke hogilva ?
It is now proved that Islamic state ordering killings in Karnataka as they get free hand in khangrace govt ...proud billava youth died becoz of Islamic millitants ....rip charan ....chutiya log ..if they have guts they shud face directly ...not infront of kid ...
Take his wife and auto driver in police custody, truth may come out in a day.
These buggers should never get married.... understand naren and viren
when bajaragdal member killed by some pfi or kfd activists he will became rowdy sheeter. if anything happens ulta, in headline bajrangdal name will pop up
for animal slaughterers its easy to slaughter humans also.
his sin will follow him.
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