Economic slowdown hits Karnataka, GSDP to dip by 1% compared to FY18-19

News Network
March 8, 2020

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.

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coastaldigest.com news network
July 10,2020

Mangaluru, July 10: Five people including four policemen suffered injuries following a clash at Melkar in Bantwal taluk of Dakshina Kannada district last night.

Abdul Salam, 29, a resident of Goltamajalu near Kalladka, was arrested on charge of attacking policemen. He was also attacked by the cops on the spot. Currently he is undergoing treatment at a hospital.

According to sources, Abdul Salam and another person were quarrelling with lorry drivers on the highway. A couple of policemen including ASI Shailesh, who were on patrol, intervened.

This led to a clash between cops and Abdul Salam, who reportedly snatched the baton from a cop and hit the men in khaki, eye witnesses said.

However, police sources claimed that Abdul Salam was holding an iron road and he thrashed policemen with the rod.

Meanwhile, more policemen reached the spot and thrashed the accused before arresting him.

Police sources said ASI Shailesh, HC Devappa and PCs Niranjan and Malik were injured in the incident. The policemen were treated the government hospital in Bantwal.

Abdul Salam, who suffered critical injuries, was taken to a private hospital in Mangaluru after preliminary treatment.

A case was registered against him in the Bantwal Town Police Station under section 353, 504, 506, 332, 307, 427 IPC, and 2 A Karnataka Prevention of Destruction of Public Property Act.

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Angry Indian
 - 
Sunday, 12 Jul 2020

All police are not truthful people and they dont have rights to hit any civilian, they are not protecting any citizen they only serve politicians

 

Wellwisher
 - 
Friday, 10 Jul 2020

A man made polarized untruth story by ?

Trust and always believe with creators justice based on facts. Hope real culprit will punished by the creator very soon.

Long live mankind

 

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News Network
January 1,2020

Mangaluru, Jan 1: Led by two local MLAs belonging to Bharatiya Janata Party, dozens of people today forcibly stopped toll fee collection at Talapady toll gate on the outskirts of the city allowing vehicles plying between Karnataka and Kerala on the national highway 66 to travel without paying any fee for some time.

Mangaluru City South MLA D Vedavyasa Kamath and Mangaluru City North MLA Y Bharat Shetty, who led the workers, said that the Navayuga Udupi Tollway Pvt. Ltd. (NUTPL), the concessionaire of the about 90-km-long highway widening project between Talapady and Kundapura in Karnataka, had failed to complete the project since over a decade.

The service roads and two flyovers under the project remained uncompleted. Hence motorists were facing a hardship. Notwithstanding Nalin Kumar Kateel, Dakshina Kannada MP, arranging ₹56 crore loan to the NUTPL through Axis Bank to complete the prominent Pumpwell flyover in the city, the company had failed to complete it.

The MLAs said that they stopped the toll collection as a symbolic protest to bring pressure on the company to complete the project within this month.

The BJP workers who gathered near the toll gate around 7.30 a.m. forcibly removed the barricades and made the vehicles ply without paying the fee. The workers of the company managing the toll booth did not resist.

The BJP workers said that vehicles would ply without paying toll till about 6 p.m. If the company resumed the collection during the day on Wednesday, the party workers would again forcibly stop it on Thursday, they said.

Shivaprasad Rai, in-charge of toll collection of the company at Talapady, Hejmady and Sasthana on the same highway told The Hindu that the NUTPL collected about ₹7 lakh as toll fee daily at Talapady from over 12,000 vehicles. The loss on Wednesday could be about ₹4 lakh.

The project is being implemented under build, operate and transfer basis.

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News Network
April 19,2020

Bengaluru, Apr 19: Karnataka Deputy Chief Minister CN Ashwath Narayan on Sunday said that "only essential and critical number of" employees of the Information Technology (IT) companies will be allowed to work from offices from April 20 onwards in Bengaluru, while others will have to continue working from home.

"Only essential and critical number of employees required will be allowed to turn up. In the next two days, it will be reviewed and a suitable decision will be taken. 

All the details will be communicated to the IT companies," Narayan said here.

Earlier on Saturday, in a meeting to review COVID-19 situation in Karnataka, it was considered that one-third of the employees of IT and biotechnology companies could be allowed to work from the office premises, while the rest should continue to work from home.

Earlier on April 17, the Deputy CM, after holding a video conference meeting with heads of the IT and biotechnology companies, had told reporters that up to 50 per cent of the workforce would have the opportunity to function from office premises after April 20.

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