State’s economic growth rate is estimated to be 7.51 per cent this year
Team News Riveting
Raipur, February 28
Chhattisgarh’s per capita income is estimated to increase by 9.37 per cent compared to previous year in the financial year 2024-25 (FY).
According to quick estimate, Chhattisgarh’s per capita income in 2023-24 was Rs 1,48,922 that is expected to reach Rs 1,62,870 in 2024-25, the state’s economic survey tabled by Finance Minister O P Choudhary in the state legislative assembly today said.
The report said not only was Chhattisgarh’s economy expanding, but people’s incomes were also rising. This means that people’s earnings will increase by 9.37 per cent, leading to a better quality of life.
Chhattisgarh’s economy is continuously growing, and this year, it is expected to gain even more momentum. According to the Economic Survey 2024-25 presented by the state government, Chhattisgarh’s economic growth rate is estimated to be 7.51 per cent this year. This means that income from trade, industries, and agriculture is steadily increasing, leading to higher earnings and an improved standard of living for the people.
The total economic output of Chhattisgarh, measured by Gross State Domestic Product (GSDP), is expected to see significant growth this year. Last year, the state’s GSDP was Rs 3,06,712 crore, and it is projected to reach Rs 3,29,752 crore this year. This indicates a continuous rise in new industries, factories, and business opportunities across the state.
Chhattisgarh’s economy stands on three major pillars – agriculture, industry, and services – all of which are expected to perform exceptionally well this year. Agriculture plays a crucial role in Chhattisgarh’s economy. This year, the agriculture, animal husbandry, and forestry sector are expected to grow by 5.38 per cent. In 2023-24, this sector was valued at Rs 48,987 crore, and this year, it is projected to reach Rs 51,621 crore. This growth will increase farmers’ income and strengthen the rural economy.
The number of industries in the state is rapidly increasing. The industrial sector is expected to grow by 6.92 per cent this year, reaching a total value of Rs 1,47,172 crore. The establishment of new factories and companies will create more employment opportunities for the youth.
Sectors like banking, tourism, and IT are experiencing a significant boost. The services sector is expected to grow by 8.54 per cent, reaching a value of Rs 1,08,461 crore. With the expansion of tourism and digital services, this sector holds even greater potential for future growth.
The biggest impact of economic growth is felt by the general public, as a booming economy leads to a better quality of life. Growth in the industrial and services sectors will create new employment opportunities while improvement in the Infrastructure will increase government revenue.
