Chhattisgarh's growth at 8.57%: Survey

Chhattisgarh’s economy is expected to grow at 8.5 per cent and reach Rs 91,933 crore in 2012-13 (GSDP at constant prices 2004-05) compared with 8.14 per cent growth rate recorded in 2011-12.

The state government on Friday tabled the Economic Survey of Chhattisgarh for the fiscal 2012-13 anticipating growth in all the sectors. The state’s growth rate in all the sectors is much higher than the National average.

The services sector continues to be the major contributor to the State’s economy and is showing encouraging trends in the current fiscal also. According to the survey, the services’ sector is likely to grow by 12.06 per cent as against 10.72 per cent in 2011-12. The services sector consists of real estate, ownership of dwellings and business services and banking and insurance among others.

The industry sector in the mineral rich state is estimated to register a growth of 6.74 per cent in 2012-13. In the previous year 2011-12, the sector had registered a growth of 7.08 per cent as compared to the previous year.

The state’s revenue realisation from the major minerals had also increased; in 2011-12, Chhattisgarh collected Rs 2737.25 crore as revenue from the minerals, accounting Rs 275.79 crore more as compared to the previous year. Though the agriculture growth rate is estimated to increase by 5.27 per cent in 2012-13, agriculture production had recorded a minus growth in 2011-12. The survey report said 6.88 Million Tonnes (MT) of foodgrains was produced in 2011-12 that was less by two per cent as compared to previous year’s production.