PANAJI: Budget documents have revealed that the state government is estimating gross-state-domestic-product (GSDP) to reach a figure of Rs 84,888 crore at current prices in 2019-20. At that level, GSDP is likely to grow at 10% in 2019-20 from a figure of Rs 77,171.7 crore in 2018-19.
The average GSDP growth between the five years from 2014-15 to 2018-19 stood at 16.8%.
Comparatively speaking, GSDP growth in 2019-20 is expected to be slower at 10%.
Meanwhile, the sector-wise contribution for GSDP is not available for 2019-20 and 2018-19. However, the Economic Survey, which was tabled in the House, had the information about sectoral break-up of GSDP till 2017-18.
The sector-wise break-up revealed that manufacturing is the biggest contributor to State’s GSDP.
Manufacturing contributed a whopping 37.6% of the state’s GSDP in 2017-18. As compared to a GSDP of Rs 70,267 crore in 2017-18, the contribution of manufacturing stood at Rs 26,424 crore.
Moreover, manufacturing was also a fast growing sector because its contribution to GSDP grew at an
compounded annual growth rate of 24.7% between 2013-14 and 2017-18.
Another important sector is agriculture. Agriculture, forestry and fishing contributed Rs 5,346 crore to GSDP in 2017-18. The contribution of agriculture and related activities has grown at a CAGR of 14.4% between 2013-14 and 2017-18.
The Economic Survey further showed real estate as another major contributor. The contribution of real estate, ownership of dwelling and professional services, which stood at Rs 5,746 crore, was 8.2% of State’s GSDP in 2017-18.
