This era noticed lockdowns and varied restrictions being imposed on account of the pandemic.
Gujarat’s GSDP “grew at the next price in the course of the interval 2016-17 to 2020-21 in comparison with the nationwide development price,” the report mentioned.
However throughout 2020-21, “the State registered its lowest development price in 5 years whereas the Nation registered a detrimental development price,” it added.
The state’s economic system registered a development price of 0.57 per cent in 2020-21 over the earlier yr.
The GSDP development price was 13.43 per cent in 2016-17, 13.87 per cent in 2017-18, 13.08 per cent in 2018-19 and 9.75 per cent in 2019-20.
In opposition to 0.57 per cent development price of Gujarat in FY 20-21, the nation’s GDP registered a detrimental development of -2.97 per cent in the identical interval.
GSDP is the worth of all the products and providers produced inside the boundaries of a State in a given interval.
Development of GSDP is a crucial indicator of a State’s economic system, because it denotes the extent of modifications within the degree of financial improvement of the State over a interval, the CAG famous.
“GSDP of Gujarat in 2020-21 at present costs was Rs 16,58,865 crore. The per capita GSDP of the State at Rs 2,35,969 throughout 2020-21 was larger than all India common of Rs 1,45,680 throughout the identical interval,” mentioned the CAG, noting that Gujarat is the ninth most populous state in India.
The state’s inhabitants elevated from 6.10 crore in 2011 to 7.03 crore in 2021, recording a development of 15.25 per cent, the CAG famous.
The sectoral contribution knowledge confirmed that there was a lower within the relative share of business in GSDP, from 39.72 per cent in 2015-16 to 38.44 per cent in 2019-20, mentioned the CAG, including that lower was seen in Agriculture and Providers sectors too.
The relative share of “taxes on merchandise minus subsidies” elevated throughout the identical interval, the CAG famous.