JammuJammu and Kashmir will show a growth of 8.49 per cent in Gross State Domestic Product (GSDP) in the current fiscal, State Economic Survey Report 2017 said.
The report which was tabled by Minister for Finance Haseeb Drabu in State Legislative Council said GSDP at constant (2011-12) prices for 2017-18 is estimated at Rs 1,09,136.52 crore as against the estimate of Rs 1,00,597.57 crore for 2016-17, indicating growth of 8.49 per cent this fiscal.
“At the current prices, GSDP for 2017-18 is estimated to be Rs 1,40,886.76 crore as against the estimate of Rs 1,26,230.
91 crore for 2016-17, showing an increase of 11.16 per cent during the year,” the report said.
The figurative description of GSDP and its related aggregates are indicators of state economy that showcase whether state has made any progress in economic terms over the period of time, it said.
The projected estimate for 2018-19 at constant (2011-12) prices and current prices of GSDP is Rs 1,16,637.44 crore and Rs 1,57,383.77 crore, it said.
The estimate of the state income (net state income) at constant (2011-12) prices for 2017-18 is Rs 90,902.60 crore as against the estimate of Rs 83,717.39 crore for 2016-17, suggesting a rise of 8.58 per cent, it said.
At current prices, state income for 2017-18 is estimated at Rs 1,19,294.71 crore as compared to Rs 1,06,326.40 crore for 2016-17, showing a rise of 12.20 per cent during the year, it said.
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