Chhattisgarh FY17 growth rate to beat national rate

Chhattisgarh to register 7.14% growth against 7.1% national growth

Chhattisgarh’s economy is expected to register a growth rate of 7.14 per cent in the financial year (FY) 2016-17 against the national average of 7.1 per cent.

In the last FY, the state grew at 7.07 per cent despite the severe drought. The state government on Friday tabled the Economic Survey for FY17.

According to advance estimate, gross state domestic product (GSDP) at current prices (market price) is likely to be Rs 290,140 crore in FY17 against Rs 260,776 crore as estimated for FY16 — an increase of 11.26 per cent.

The report added that the gross state value added (GSVA) at basic prices is expected to increase from Rs 246,993 crore in FY16 to Rs 275,655 crore in FY17 — registering 11.75 per cent growth.

The agriculture sector's output — agriculture, livestock, forestry and fishing — increased to Rs 48,522 crore in FY17 from Rs 43,419 crore in FY16. The contribution of the industry sector — mining and quarrying, construction, manufacturing and electricity, and gas and water supply — increased to Rs 127,389 crore in FY17 from Rs 116,589 crore in FY16. The share from the service sector went up from Rs 86,985 crore in FY16 to Rs 99,744 crore in FY17. 

The state’s per capita income is likely to register a growth of 8.26 per cent during FY17. According to estimates, the per capita income during FY17 is likely to reach Rs 91,722 against Rs 84,767 in FY16.