Chhattisgarh’s economy is set to shrink by 1.77 per cent while the per capita income which was Rs 1,05,089 in 2019-20 as per quick estimate, is likely to reach Rs 1,04,943, registering a decline of 0.14 percent during Financial Year 2020-21.

 

The ‘Economic Survey 2020-21’ was tabled in the State Legislative Assembly during the ongoing Budget Session on Friday by Economics and Statistics Minister Amarjit Bhagat. 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 the right track and a model in the country during pandemic induced lockdown. According to the Chhattisgarh Economic Survey 2020-21, the Gross State Domestic Product (market price) at constant price (base year 2011-12) is likely to decrease at -1.77 per cent over the previous year 2019-20. The anticipated growth in Gross State Domestic Product 2020-21 (market price) at Constant Price is likely to decrease at -1.77% over the previous year 2019-20.

In which the Agriculture sector (Agriculture, Livestock, Forestry and Fishing), is expected to grow at 4.61%. The service sector, a key driver in the state’s economy, is expected to grow marginally by 0.75 per cent while the Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas & Water supply) is expected to shrink by 5.28%, over the previous year. Similarly, the anticipated growth in Gross State Domestic Product 2020-21 at Current Price as per advance estimate, is likely to increase to Rs 3,50,270 crore in the year 2020-21 from Rs 3,44,955 crore of previous year registering a growth of 1.54%. The sectoral change is estimated in 2020-21 over previous year in Agriculture sector (Agriculture, Livestock, Forestry and Fishing) Rs 67025 crore to Rs 73,994 crore; Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas & Water supply) from Rs 1,33,680 crore to Rs 1,29,211 crore and Service sector from Rs 1,18,917 crore to Rs 1,22,893 crore. The sectoral percentage growths over previous year are 10.40%, -3.34% and 3.34%. As per Quick Estimates for the year 2019-20 at constant price, the GSDP (market price) registered growth of 5.12% over previous year 2018-19.

 

In which Agriculture sector (Agriculture, Livestock, Forestry and Fishing), Industry sector (Mining and Quarrying, Construction, Manufacturing and Electricity, Gas & Water supply) and Service sector are estimated to grow at 3.67%, 3.43%, and 7.71% respectively over previous year. The Per Capita Income (Net State Domestic Product at current prices) in 2019-20 as per quick estimate is 1,05,089. It is further likely to reach Rs 1,04,943 during 2020-21. Percent decrease compared to the previous year is -0.14%. 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.