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Economic Survey projects 8.2 per cent growth rate

Written by: Staff
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Shimla, Mar 2 (UNI) The Economic Survey 2005-06 tabled in the Himachal Pradesh state assembly today predicted a growth rate of 8.2 per cent, riding on 9.5 per cent growth in primary sectors, 7.3 per cent in secondary sectors, 8.9 per cent in transport and trade and 2.4 per cent growth in service sector.

The Gross State Domestic Product (GSDP) at current prices was also estimated at Rs 20,093 crore as against Rs 18062 crore last year.

The survey, which was tabled in the assembly by Chief Minister Virbhadra Singh today, said the per capita income also witnessed an increase of 9.7 per cent to stand at Rs 27,486 in 2004-05 from Rs 25,059 last year.

The overall economic growth in total State Domestic Product, at 1993-94 prices, increased to Rs 9,879 crore from Rs 9,185 crore last year.

The survey says the food grain production during 2005-06 was likely to be about 16.36 lakh MT as against 13.98 lakh tonne in 2003-04.

The economy was shifting from the agriculture sector to industries and services as its percentage contribution in total SDP has declined from 57.9 per cent in 1950-51 to 21.1 per cent in 2004-05, while the share of industries and service sectors has increased from 1.1 and 5.9 per cent in 1950-51 to 15.9 and 17.3 per cent during the same period, it said.

The contribution of primary, secondary and personal and community service sectors to gross state domestic product (GSDP) was 25.40 per cent, 35.59 per cent and 17.32 per cent respectively, while transport, trade and communication contributed 14.50 per cent.

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