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
my dear DK people plz throw this chut*ya man to arabian sea...alone with some bootlicking slave like BD,VHP etc.
I think our prime minister dont know the latest result declared of PUC II. may be he came to insult us. Or I think he thought he is in UP where more then 150 schools Is having all children failed where our BJPs star campainer Mr Yogi is CM of that state. Mr Prime minister i think you need a peace of paper from your adviser before you start you lies.
following positions ?
Pakoda manager
pakoda supervisor
pakoda salesman
pakoda engineer
etc.....
Modi dont know how many Jobs he have Created every year, Upon that he is Blaming Congress.. Hahaha What a Joke :D Till now what all Modi promised we didnt get anything and till he is in power people of India will not get anything and will Suffer.
#PakodaBusiness #BoycottChaiwala
People and media should boycott such blabber public programmes
Modiji graduates in karnataka far better than graduates of PAKODAS in your area.
We people dont have Alzheimer's disease. We didnt forget your election speech and your promises. B#####d
Dont you have shame feku..!
You are not fit for PM post. You fit for nothing.. shameless
Joke of the year.. This Feku came to power by promising lakhs of jobs in India. Till now he didnt act for that and he mocked youths by pakoda business statement
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