Team News Riveting
Raipur, February 26
Chhattisgarh’s economy is set to contract by 1.77 per cent while the per capita income is expected to decline in the financial year 2020-21 (FY21).
The negative growth could be attributed to the devastating impact of COVID-19 but it also contested the Chhattisgarh government’s claim that the state’s economy was on right track and a model in the country during pandemic induced lockdown.
According to the Chhattisgarh Economic Survey 2029-21, the Gross State Domestic Product (market price) at constant price (base year 2011-12) is likely to shrink by 1.77 per cent over the previous year 2019-20.
While the agriculture sector (Agriculture, Livestock, Forestry and Fishing) is likely to grow at 4.61 per cent, the Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas and Water supply) in the mineral-rich Chhattisgarh is set to record a negative growth of 5.28 per cent in the FY21.
The service sector—a key driver in the state’s economy– is expected to grow marginally by 0.75 per cent over the previous year.
The per capita income in 2019-20 as per quick estimate was 1,05,089. It was likely to reach Rs 1,04,943 during 2020-21, registering a 0.14 per cent decline as compared to previous year.
The state government said that the decline was much lower as compared to the national per capita income that recorded a negative growth of 5.41 per cent. Even the estimated GSDP also bucked the national trend of 7.7 per cent fall in the economy.
