When India’s GDP declines, Karnataka set to record higher growth rate of 8.5%

News Network
February 17, 2018

Buoyed by a robust growth in services sector, the Gross State Domestic Product (GSDP) of Karnataka is set to record higher growth rate of 8.5% even as the country's GDP growth is projected to decline to 6.5% in 2017-18 as compared to 7.1% in 2016-17 at constant prices (2011-12).

According to the state Economic Survey for 2017-18 tabled in the legislature ahead of the Budget for 2018-19 by Chief Minister Siddaramaiah, the services sector is expected to grow by 10.4% in 2017-18 as against a growth of 8.9% during 2016-17.

During the last few years, the services sector has been contributing a larger portion of GSDP. The share of the sector saw a marginal increase from 65.53% in 2016-17 to 66.63% in 2017-18. The contribution of real estate, professional services and ownership of dwellings is highest with 35% in 2017-18, followed by manufacturing (13.88%), trade and repair services (9.27%) and crops (7.68%), the survey said.

GSDP is the most important indicator in measuring economic growth of the state. While in 2016-17, the country's GDP was 7.1% at Rs 1,21,96,006 crore at constant (2011-12) prices, the state's GSDP was growing at 7.5% at Rs 8,74,395 crore. This is now (2017-18) expected to grow at 8.5% and reach Rs 9,49,111 crore.

The gross state value added (GSVA) growth rate of agriculture and allied sector in 2017-18 has been lowered to 4.9% compared to 5.7% in 2016-17 on account of the decline in the area under tur and paddy to 3 lakh hectares and 2 lakh hectares respectively, in kharif 2017-18 compared to 2016-17.

The industry sector, which comprises of mining and quarrying, manufacturing, construction and electricity, gas and water supply, is expected to grow by 4.9% in 2017-18 against a growth of 3.7% during 2016-17. Also, the state's real estate, professional services and ownership of dwellings, is expected to grow at 11.5% in 2017-18, whereas, the first revised estimates (FRE) of 2016-17 was 10%.

"Our government is managing finances without causing deficit of resources for the developmental schemes of the state, even in the midst of financial burden caused on account of waiver of farm loan and pay revision of government employees," Siddaramaiah said in his Budget speech.

The Net State Domestic Product (NSDP) at constant prices is estimated at Rs 8,48,692 crore, showing a growth of 8.5%. The NSVA growth of agriculture and allied activities, industry and services sectors are expected to be 4.8%, 4.8% and 10.3% respectively, the survey added.

Per capita state income of Karnataka (at current prices) is estimated to increase by 10.9% to touch Rs 1,74,551 during 2017-18, against Rs 1,57,436 in 2016-17. In 2015-16, it was Rs 1,42,267. Karnataka's per capita income is higher by 56.2% over all-India per capita income for 2017-18, which is Rs 1,11,782. The level of per capita state income at constant prices is also expected to grow from Rs 1,20,496 during 2016-17 to Rs 1,29,362 for 2017-18 to reach an increase of 7.4%.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 22,2020

Bengaluru, Jun 22: Concerned over the increase in COVID-19 cases in the city, Karnataka Chief Minister B S Yediyurappa on Monday directed officials to implement lockdown measures strictly in the clusters which have reported more infections.

Yediyurappa held a meeting with Ministers and senior officials regarding containing COVID-19 in Bengaluru and said it can be achieved only if preventive measures are implemented strictly and asked the officials to work in this direction.

"Lockdown shall be implemented strictly in the clusters which reported more cases, especially, K.R. Market and surrounding areas such as Siddapura, VV Puram, Kalasipalya etc. It was decided to seal the adjoining streets, where the cases are reported, a release from the Chief Minister's office said. Stringent action would be taken against those who violate quarantine norms and FIR would be filed if necessary, it said.

Till Sunday evening, the state capital has reported 1,272 cases of COVID-19, including 64 deaths and 411 discharges. On Sunday, as many as 196 fresh cases were recorded. Officers were directed to ensure hygiene and provide other basic amenities to the people who were quarantined in the social welfare department's hostels and other government institutions.

"COVID-19 should be contained without affecting the economic activities in Bengaluru, which resumed recently," the Chief Minister said.

Noting that booth-level officers and volunteers were working to trace contacts and monitor quarantined persons, he said the COVID war room shall have real-time information on the availability of beds in various designated hospitals and facilitate treatment to the infected without loss of time.

A bulletin from the Bruhat Bengaluru Mahanagara Palike (BBMP), the city civic body, said there were 298 active containment zones in the city. BBMP Commissioner B H Anil Kumar along with the Chamarajpet Congress MLA B Z Zameer Ahmed Khan visited a few slum areas in the city to take stock of the COVID-19 situation, officials said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 27,2020

Bengaluru, Mar 27: The Indian Air Force (IAF) on Wednesday said it has created nine quarantine facilities of 200-300 personnel capacity each at its nodal bases across the country to combat the outbreak of novel coronavirus.
"To monitor the prevailing situation and provide immediate response and assistance as required, a 24x7 crisis management cell has been set up at the IAF Headquarters and various Command Headquarters," stated an IAF press release.
IAF aircraft are continuing to fly in medical supplies and doctors to Leh and fly out blood samples for COVID-19 testing to Chandigarh and Delhi, the release noted.
"Command Hospital Air Force Bangalore (CHAFB) has been designated as the first laboratory in the IAF to undertake COVID-19 testing, which will greatly enhance the region's ability to carry out quick testing of suspected cases and allow prompt and timely intervention where required," it mentioned.
All measures and directives issued by the government towards containing the spread of COVID-19 have been strictly enforced across all IAF stations, the release stated.
"The Indian Air Force continues to take measures to provide all possible assistance to civil administration across the country in containing the spread of COVID-19. The IAF has created nine quarantine facilities of 200-300 personnel capacity each at nodal IAF bases across the country," the release noted.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 1,2020

Bengaluru, Jul 1: Karnataka Primary and Secondary Education Minister S Suresh Kumar on Wednesday played down reports about confusion regarding valuation of Second Pre- University and the Secondary School Leaving Certificate exam papers.

"Creating confusion has become a habit. There was confusion before the exam, during the exam and now confusion about the valuation of the exam papers," Kumar told reporters in Ramanagara when asked about the confusion over the valuation of answer sheets.

He had gone there to inspect a few centres where the SSLC or the 10th standard exams are underway.

The minister reminded people not to speak about the abilities of the students with contempt.

"Our students have toiled hard and are enthusiastically appearing for the examination. They are eligible for the marks they will score. So we should not speak about our children with disrespect," Kumar said.

The Education Minister said he had spoken to many leaders including former chief ministers Siddaramaiah and H D Kumaraswamy on conducting the examinations.

"Kumaraswamy had insisted on postponing the examination. I personally spoke to him and apprised him about the steps taken by us. I told him that we will work with more sincerity to ensure the safety of the children," Kumar said.

The SSLC exam was scheduled to take place from March 27 but due to the coronavirus-induced lockdown, it was postponed.

While the CBSE and a few other states either decided to give marks based on the students' performance in the previous examinations such as quarterly and half-yearly exams or gave general promotion to the students, Karnataka went ahead to hold the exam.

According to Karnataka Secondary Education Examination Board officials, around 8.5 lakh students have enrolled this year for the SSLC examination.

The exams are being held at 2,879 exam centres across the state.

Prior to the SSLC examination, the last exam of the Second PUC was also conducted on June 18, which was also put on hold due to the lockdown.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.