ASSOCHAM's report on Goa based on archaic figures: GCCI
THE GOAN NETWORK
PANAJI
Goa Chamber of Commerce and Industry has said that Associated Chambers of Commerce & Industry of India's report on state of Goa’s economy is based on old figures, even as it went on to add the conclusions are based on wrong data.
ASSOCHAM had released a report on September 14, 2016, saying that Goa has failed to attract investors due to unfavourable economic situation.
Talking of the report, GCCI said in a press note, “Both State GDP (gross domestic product) and Industrial Profile contain figures of 2013-14 and prior period. These figures, in today’s terms, are archaic and do not contribute significantly to the conclusions sought to be drawn in this document.”
One of ASSOCHAM’s most critical comment on Goa’s economy said that the performance of industrial sector in the state is poor as its share to GDP has declined from 45.9% in 2009-10 to 33.2% in 2013-14. Replying to this, GCCI said, “As per (ASSOCHAM’s) the report, the contribution of the industrial sector to the State GDP has seen a decline from 45.9% in 2009-10 to 33.2% in 2013-14 “ these figures are wrong . As per the latest Economic Survey, the contribution of industry to GDP in 2009-10 was only 27.28% (not 45.9%) and in 2013-14 it was 20.2%.”
ASSOCHAM had noted in its report that the contribution of agriculture and allied activities to Goa’s GDP has fallen from 5.1% in 2009-10 to 3.6% in 2013-14. GCCI gave a sharp reply to this by saying, “It is pointed out that the agriculture and allied sectors' contribution to GDP has gone down from 5.1% to 3.6 %, but the fact that in actual volumes there is a rise of nearly 12% for the same period.”
GCCI continued, “In a highly literate state, where services and manufacturing grow, it is but natural that contribution of agriculture to GDP in percentage terms will come down. What is important is that the actual volumes of agricultural produce does not come down.”
