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Haryana to log 8.2 pc growth during 2018-19, says Finance Minister Captain Abhimanyu

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Haryana is expected to achieve a growth of 8.2 per cent as against 7.2 per cent recorded at the level, during 2018-19, said Finance Minister Captain Abhimanyu while presenting the state's Budget for 2019-20 in the Vidhan Sabha here on Monday.

"During 2018-19, as per Advance Estimates, the gross state domestic product (GSDP) of Haryana is expected to achieve a growth of 8.2 per cent, as against 7.2 per cent, recorded at the level," he said.

"According to advance estimates, GSDP of Haryana for 2018-19 at current prices has been estimated at Rs 7.07 lakh crore, contributing 3.75 per cent to the all India GDP of Rs 188.41 lakh crore," he said.

"The GSDP of Haryana at constant prices has been estimated as Rs 5.26 lakh crore, which is 3.77 per cent of the estimated all India GDP of Rs 139.52 lakh crore in 2018-19," said Finance Minister Abhimanyu.

"The growth of gross state value added (GSVA) in the primary sector has been estimated at 5.5 per cent, 8.6 per cent in the secondary sector and 8.2 per cent in the tertiary sector at constant prices in 2018-19," he said.

Lauding the growth of Indian economy under the leadership of Prime Minister Narendra Modi, he said: "From being the 11th largest economy in the world in 2013-14, India is today the 6th largest and is projected to become the second largest by 2030."

Talking about Haryana's development in the past over four years, he said: "As a result of the state government's initiatives to diversify source of income for persons employed in the primary sector, the highest growth rate is estimated to be in livestock at 11.1 per cent, followed by pisciculture and aquaculture at 7.4 per cent."

"In the secondary sector, electricity, gas, water supply and other utility services are likely to register a growth of 17.5 per cent and manufacturing 9.2 per cent in 2018-19. In the tertiary sector, trade and repair services are expected to achieve growth rate of 9.6 per cent, financial services 9.2 per cent and public administration 10.5 per cent," he said.

"The composition of GSVA signifies a structural transformation towards services sector, a sign of developing and mature economy. Since 2014-15, share of tertiary sector has increased by 1.62 per cent to an estimated 50.2 per cent of GSVA and the share of secondary sector has increased by 1.27 per cent to an estimated 32 per cent of GSVA at constant prices in 2018-19," he said.

"The share of primary sector is estimated at 17.8 per cent in 2018-19. Since 2014-15, the per capita income of the state is estimated to have increased by over 34 per cent at constant prices. The per capita income of the state at constant prices in 2017-18 was estimated at Rs 1,57,649, which is likely to further increase to Rs 1,68,209 in 2018-19 as compared to the All India figure of Rs 91,921," he said.

"The per capita income of the State at current prices in 2014-15 was 1,47,382. In 2017-18, it was estimated at Rs 2,03,340 which is likely to further increase to Rs 2,26,644 in 2018-19, as compared to the all India figure of Rs 1,25,397 in 2018-19, making Haryana one of the leading States with the highest per capita income among the major States in the country," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 25 2019. 18:52 IST
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