Himachal’s GSDP set to grow at 8.3% in 2021-22: Economic Survey

The economy of Himachal Pradesh has recovered from the Covid-19 pandemic with the state’s GSDP set to grow at 8.3 per cent in 2021-22 as compared to minus 5.2 per cent in 2020-21, Chief Minister Jai Ram Thakur said on Thursday.

Tabling the Economic Survey for 2021-22 in the Assembly, Thakur, who also holds the finance portfolio, said the state’s economy as per advance estimates is expected to witness real growth of 8.3 per cent in 2021-22 after contracting in 2020-21.

In real terms, the increase in Gross State Domestic Product (GSDP) in the pre-Covid and post-Covid era i.e. 2019-20 and 2021-22 is 2.7 per cent.

The GSDP of the state at current prices in 2021-22 is estimated at Rs 175,173 crore.

The per capita income is estimated to register a quantum jump of 10.1 per cent from Rs 1.83 lakh last year to Rs 2.01 lakh in 2021-22, indicating a revival of the economy.

The survey says certain sectors have crossed pre-pandemic levels of output.

One of the worst-hit sector of tourism saw a decrease of 81 per cent in tourist arrivals in 2020, but the grim situation seems to be improving as there was an increase of 75.44 per cent in tourist flow up to December 2021.

However, the agriculture and allied sectors, which have been least impacted by the pandemic, are expected to register a growth of 8.7 per cent as compared to a negative growth of 8.6 per cent last year.

The services sector has been the worst hit by the pandemic even as it is expected to grow by 6.3 per cent, after having registered negative growth of 2.1 per cent, last year.

Tourism, horticulture and hydropower generation are major contributors to Himachal Pradesh’s economic development.

20220303-154602

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

18,254FansLike
14,214FollowersFollow