GSDP estimated to grow by 6.65% this financial year

Source: The Hitavada      Date: 10 Feb 2018 10:28:29


 

Staff Reporter,

RAIPUR,

The Gross State Domestic Product (GSDP) is estimated to grow by 6.65 percent and the per capita income is likely to reach Rs 92,035 in the financial year 2017-18 in Chhattisgarh. Punnulal Mohle, Minister for Planning, Economics and Statistics tabled the state’s Economic Survey Report for the year 2017-18 in the Chhattisgarh State Assembly today.


The Per Capita Income (Per Capita NSDP at current prices) is likely to attain a growth of Rs 92,035 during 2017-18 with a percentage growth of 9.22 percent, over previous year. Later Chief Minister Dr Raman Singh released the Economic Survey Report Booklet in the Assembly Annex.


According to the economic survey report submitted by the Punnulal Mohle, Minister for Planning, Economics and Statistics, the anticipated growth in Gross State Domestic Product for the financial year 2017-18 at Constant Price is estimated to grow at 6.65 percent over the previous year 2016-17. Thus the GSDP at constant prices in the year 2017-18 is likely to attain a level of Rs 2,27,866 crore as against the quick estimates of GSDP for the year 2016-17 at Rs 2,13,649. The growth in Agriculture Sector (Agriculture, Livestock, Forestry and Fishing), Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas and Water supply) and Service sector are expected to be 2.89 percent, 5.84 percent and 9.46 percent respectively, over the previous year.


The anticipated growth in Gross State Domestic Product 2017-18 at Current Price is likely to increase by 11.22 percent. As per advance estimate, the GSDP at current price (market prices) is likely to increase to Rs 2,91,681 crore as against Rs 2,62,263 crore as estimated for the year 2016-17. In the period, sectoral growth likely to show in Agricultural Sector (Agriculture, Livestock, Forestry and Fishing) from Rs 53,005 to Rs 60,591 crore; Industry Sector (Mining and Quarrying, Construction, by 6.65% this financial yearManufacturing and Electricity, Gas and Water Supply) from Rs 1,04,263 crore to Rs 1,12,140 crore and in Service Sector from Rs 89,270 crore to Rs 1,00,685 crore. The percentage increases in comparison to the previous year in these sectors are 14.31 percent, 7.56 percent and 12.79 percent respectively.


According to the Quick Estimates at constant prices for the year 2016-17, the GSDP has increased to Rs 2,13,649 crore from Rs 1,97,069 crore in 2015-16. In percentage, the growth registered in 2016-17 was 8.41 percent. The growth in Agriculture Sector (Agriculture, Livestock, Forestry and Fishing), Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas and Water supply) and Service sector are estimated to increase at the rate of 13.78 percent, 7.85 percent and 6.82 percent respectively, over the previous year.


The mineral-rich state earned Rs 3071.89 crore from the major minerals while it earned Rs 185.07 crore from minor minerals during 2016-17. The revenue earned from coal and iron ore had major share in the state’s mineral revenue, the report said. As on March 31, 2017, state’s total coal production was 139.722 million tonnes while iron ore production stood at 31.068 million tonnes.