Haryana growth down to 6.5%

Negative farm growth, low pace in other sectors key

A negative farm growth along with low pace in other sectors has pulled down the overall economic growth of Haryana to 6.5 per cent in 2012-13 from 7.8 per cent growth in 2011-12, even as the state is looking at gross state domestic product (GSDP) growth of 6.9 per cent for 2013-14.

"In spite of high growth rates recorded in finance and real estate and other services sectors during 2012-13, the low growth of 6.5 per cent may be explained by the negative growth registered in agriculture and allied activities sector and low growth recorded in manufacturing, electricity, gas & water supply," said Haryana's latest economic survey for 2013-14.
 

The agriculture and allied activities of an agrarian state posted negative growth of 0.7 per cent for 2012-13 (quick estimates), while other sectors, including manufacturing, recorded low growth at 4.9 per cent, electricity, gas and water supply at 0.5 per cent, construction at 4.7 per cent, transport, communication and trade at 6.7 per cent, shows survey.

Although finance & real estate and other services sectors grew by 15.3 per cent and 13 per cent respectively for 2012-13, said survey.

According to the survey, 6.5 per cent of Haryana's GSDP growth, at constant prices, was lowest since 2007-08.

It also highlighted that the state economy grew at an average annual growth rate of 8.8 percent during the 2005-06 to 2012-13.

According to advance estimates, the Gross State Domestic Product (GSDP) is against expected to grow at lower rate of 6.9 per cent for 2013-14 at constant prices.