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
T?ank? for a marvelous posting! ? s?riously
enjoyed ?eading it, you are a gr??t author.? will be
sure to bookmark your blog and will eventually ?ome back sometime s?on. I want to encourage that you continue your
great writing, ha?e a nice day!
Chec? out my web-site: Residential
Fences: http://Ixly.gotoip1.com/comment/html/index.php?page=1&id=409957
I'm not sure exactly why but this weblog is loading extremely
slow for me. Is anyone else having this problem or is it a problem on my end?
I'll check back later on and see if the problem still exists.
My blog; wireless
doorbell camera reviews: http://jtvx.kr/?document_srl=561063
It's truly a nice and helpful piece of information. I'm glad that you simply shared this useful
information with us. Please stay us informed like this.
Thank you for sharing.
Here is my webpage :: kidde carbon monoxide detector reviews: http://gudascarpentry.com/eight-effortless-energy-efficient-guidelines-…
Flu-like symptoms for four days, fever and cold shivers, stiff joints, headache
and sore throat.
My blog ????
??????? ???? ??????: http://letstango.in/component/k2/itemlist/user/85456.html
This is the right site for anybody who would like to understand
this topic. You know so much its almost hard to argue with you (not that I actually will need to…HaHa).
You definitely put a fresh spin on a topic that's been discussed for
decades. Great stuff, just excellent!
my page: payday advanced: http://www.wsep.co.uk
Governments didn't simply use posters to drive
their message residence; learn the way standard World Conflict 1 songs
played an element in propaganda.
Feel free to surf to my page ... quiz games online for girl: http://fernandezdnsv.hazblog.com/Primer-blog-b1/nell-On-Hubpages-b1-p16…
Very good post. I absolutely appreciate this site. Continue tthe good work!
My site farming simulator 2016 (Allan: https://farmingsimulatorgames.imgur.com/)
Antihistamines may also dry up mucus, however I don't recommend taking them for more than a few days
if you do not have allergies.
Feel free to surf to my homepage quiz 11 cold war: http://www.ipernity.com/blog/1741590/edit/3915206
Probably the absolute best source I have found to Buy
Matcha Green Tea Powder to find out for yourself
and get much more information about Health Benefits of Matcha
Tea,. Vitamin E prolongs the life of red blood
cells and promotes cell respiration and is
reported to be the anti-aging vitamin. Following are some top recommended herbal treatments for preventing acne and nourishing skin cells.
my blog post; Jual Jiang Zhi: http://farmakita.com/tag/jual-jiang-zhi-tea-murah
Add new comment