Chhattisgarh’s economy is set to contract by 1.77 percent while per capita income too is expected to decline in fiscal 2020-21.
The negative growth could be attributed to the devastating impact of Covid-19 on the economy, read the "Economic Survey 2020-21" tabled in the Assembly on Friday.
The report states that as per advance estimate, the Gross State Domestic Product (market price) at constant price is likely to decrease at -1.77 percent over 2019-20.
The agriculture sector (Agriculture, Livestock, Forestry and Fishing) is likely to grow by 4.61 percent, Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas and Water supply) to decrease by 5.28 percent and Service sector is expected to grow by 0.75 percent over the previous fiscal year.
Similarly, the per capita income in 2019-20 as per quick estimate is Rs 105,089, which will fall to Rs 104,943 during 2020-21. Percent decrease compared to the previous year is 0.14 percent.
The report states that the Gross State Domestic Product (market price) at current price is likely to increase Rs 350,270 crore in 2020-21 from Rs 344,955 crore in the previous year, a growth of 1.54 percent.
Quick Estimates for 2019-20 at constant price: GSDP (market price) registered growth of 5.12 percent over 2018-19.
The Agriculture, Industry and Service sectors are estimated to grow at 3.67 percent, 3.43 percent and 7.71 percent respectively over the previous year.
