Friday, Apr 26 2024 | Time 02:29 Hrs(IST)
image
Business EconomyPosted at: Feb 22 2020 12:46PM


Growth projection on constant rate: UP

Lucknow, Feb 22 (UNI) Targeting to become one dollar trillion economy by 2024 to assist the country to achieve the goal of five-trillion dollar economy, Uttar Pradesh Planning department on Saturday projected growth at constant rate.
The economics and statistics division of the UP Planning Institute has released the advance estimates of the state income at constant and current prices for 2019-20 on base year 2011-12, here.
The advance estimates of the Economics and Statistics Division of State Planning Institute, has projected that the growth in Gross State Domestic Product (GSDP) at constant (2011-12) prices is likely to be 4.4 per cent.
According to the Gross State Value Added (GSVA) estimates at constant prices for FY20-the primary, secondary and tertiary sectors of the UP's economy show a growth of 2.2 per cent, 1.1 per cent and 7.5 per cent.
It reflects that highest growth would be recorded by the tertiary sector. The growth of Net State Domestic Product (NSDP) at constant prices is estimated at 4.3 per cent.
Besides, the GSVA of the state crop sub-sector is projected to grow by 1.6 per cent during 2019-20. The estimates of livestock sub-sector have been prepared using the milk, egg and wool production data of 2019-20 provided by UP animal husbandry department and rates provided by the CSO. The GSVA of Livestock sub-sector is likely to show a growth of 3.8 per cent during 2019-20.
The main indicators used to estimate industry sector estimates are the state wholesale price index (WPI) and state Index of Industrial Production (IIP). The GSVA of manufacturing sub-sector was likely to be more than Rs 1.83 trillion, showing a growth of (-) 1.5 per cent during 2019-20.
In services sector, the GSVA is projected to witness a growth of 7.5 per cent during 2019-20. The main indicators used to estimate service sector estimates were preceding three years average growth rate and consumer price index (CPI) of 2019-20.
Meanwhile, the GSDP of UP at current prices for 2019-20 is likely to hit the level of Rs 17.95 trillion.
According to Institute Director Arvind Kumar Pandey, these estimates are based on methodology provided by the Central Statistical Organisation, New Delhi and by adhering to the all India 1st advance estimates released last month, as well as by using the provisional data of targets and achievements provided by various related departments of the UP government.
Meanwhile, the per capita income of UP has shown a growth of 5.9 per cent, rising from Rs 66,512 in 2018-19 to Rs 70,419 in 2019-20. The sectoral distribution of gross state value added (GSVA) at current price is primary sector 25.2 per cent, secondary sector 25.8 per cent and tertiary sector 49.0 per cent.
The GSDP at constant prices is likely to breach the level of Rs 11.87 trillion in 2019-20 as against the quick estimates of GSDP for the previous financial year 2018-19 of Rs 11.37 trillion.
UNI MB JTS 1245
Please log in to get detailed story.
Tags: #Growth projection on constant rate: UP
More News

Arun Alagappan appointed as Executive Chairman of Coromandel International

25 Apr 2024 | 7:41 PM

Hyderabad, April 25 (UNI) Arun Alagappan has been appointed as Executive Chairman of Coromandel International Limited (CIL).

see more..

Tech Mahindra net at Rs 661 crore in Q4; Company gives dividend of Rs 28 per share

25 Apr 2024 | 7:28 PM

New Delhi, April 25 (UNI) Mahindra Group company Tech Mahindra, a technology consulting and digital solutions provider, on Thursday reported about 41 per cent decline in net profit at Rs 661 crore year-on-year basis for the fourth quarter ended March 31, 2024.

see more..

Kottayam-Kochi Rubber Market Rates

25 Apr 2024 | 7:26 PM

Kottayam, April 25 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..
Indusind Bank net up 15 pc in Q4

Indusind Bank net up 15 pc in Q4

25 Apr 2024 | 7:10 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported a 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023–24, compared to Rs 2,043 crore in the same quarter in 2022–23.

see more..

25 Apr 2024 | 6:53 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023-24 compared to Rs 2,043 crore in the same quarter in 2022-23.

see more..
image