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
Simply desire to say your article is as surprising.
The clarity in your post is simply great and
i can assume you're an expert on this subject.
Well with your permission allow me to grab your feed to keep updated with
forthcoming post. Thanks a million and please
continue the enjoyable work.
Feel free to surf to my homepage psychics: http://Giadinhnazarethvietnam.com/video/profile.php?u=FCKBell727
This is my first time visit at here and i am actually impressed to read everthing at single place.
My website: Psychics feedback: http://05.gd/psychic_ratings_949884
Awesome post.
Also visit my website ... http://jkt.Dom.web.id/index.php?a=member&m=1168477: http://jkt.Dom.web.id/index.php?a=member&m=1168477
I was curious if you ever considered changing the structure of your
website? Its very well written; I love what youve got to say.
But maybe you could a little more in the way of content so people could connect
with it better. Youve got an awful lot of text for only having 1 or 2
images. Maybe you could space it out better?
my web-site - psychics: http://Www.isuruvimana.net/profile.php?u=YaniraMarti
I am extremely impressed with your writing skills as well as with the layout on your
weblog. Is this a paid theme or did you customize it yourself?
Either way keep up the excellent quality writing, it
is rare to see a great blog like this one these days.
my blog; psychic ratings: http://www.Partypillsforum.com/index.php?a=member&m=2808217
Hi there, yup this paragraph is truly good and I have learned
lot of things from it about blogging. thanks.
Look at my homepage :: psychic
readings: http://partypillsforum.com/index.php?a=member&m=2792996
Nice post. I learn something new and challenging on blogs I stumbleupon on a daily basis.
It's always interesting to read content from other writers and
practice something from other sites.
Review my blog post ... http://www.Foundationkey.com/Index.php?do=/blog/220852/what-will-i-get-…: http://www.Foundationkey.com/index.php?do=/blog/220852/what-will-i-get-…
Howdy just wanted to give you a brief heads up and let you know a few of the images
aren't loading correctly. I'm not sure why but I think its a
linking issue. I've tried it in two different internet browsers
and both show the same results.
Review my blog ... Psychic Reviews: http://chicagorehab.net/userinfo.php?uid=2839729
I seriously love your blog.. Great colors & theme. Did you develop this site yourself?
Please reply back as I'm trying to create my very own website
and would like to learn where you got this from or just
what the theme is named. Many thanks!
Feel free to surf to my site :: Psychics Feedback: http://Shorl.com/drirustavestyna
Hi there friends, how is all, and what you want to say concerning this piece of writing, in my view its in fact remarkable for me.
my web page; Psychics Directory: http://Chicagorehab.net/userinfo.php?uid=2906161
Add new comment