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
Why only POOJARY... is attacked...
The cheddis are out on all their deception.. They can kill their own cadres to make their false claim and blame other to deceive those who are sleeping. for long time this is their evil agenda... & fooled many...Y not this time too..
@ CHARITA ,,,
JUST WAIT AND SEEE WHO KILLED... SDPI OR RSSS OKK....
Fee naari.......
SDPI goons are behind this brutal attack. back stabbers.
@ viren kotian ....
ya u r right here we need proper investigation to catch the real terrorist ..
last time how harish killed and blamed to mulsimssss
then police did perfect investigation and catch the real terror who killed same commu
bajrangies always create problems around.....
Bjp attacking people who left bjp n supported Congress this zp/tp election.
#rss #deshdrohiRSS
Is killing so easy in mangalore? Pull all politicians or rowdies who wants to kill each other to a ground n let them do what they want to so.. So that Mangalore citizens can stay without any fear
Whats happening in our town? now police along with sangh parivar activists will launch mid night raids on homes of innocent muslims, drag them to custody and torture...
What the hell... Assailants are directly helping Sangh Parivar. They must be arrested and punished immediately.
Also CD must let us know the back ground of the victim. Where he was part of saffron immoral brigade (like prashant poojary of Moodbidiri)?
thanks CD for the fast update. this is a shocking incident.
Get well soon Prakash Poojary. We are with you. We will not leave the terrorists.
Hope police will raid all suspects homes in Jokatte and give justice to the victim.
Accused might be B wing of BJP. they kill their own men in sensitive areas and blame it on other communities.
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