Economic survey shows Himachal Pradesh to grow at 7.3 pct in ongoing fiscal

Himachal Pradesh is expected to grow at a higher rate of 7.3 percent in 2018-19 compared to 6.5 percent in the previous fiscal, according to the Economic Survey tabled in Assembly Friday. The per capital income of the state increased by Rs 16,257 to Rs 1,76,968 in 2018-19, the Survey presented by Chief Minister Jai Ram Thakur showed. The state Budget for 2019-20 will be presented on Saturday.

The survey pegged the economic growth rate for 2018-19 at 7.3 percent, highest in three years. The growth rate for 2017-18 was 6.5 percent, and 7 percent for 2016-17. The gross state domestic product (GSDP) in 2018-19 is projected at Rs 1,51,835 crore. Earlier, the GSDP at current prices in 2017-18 increased to Rs 1,36,542 crore from Rs 1,25,122 crore in 2016-17.

The agriculture sector accounts for about nine percent of the total GSDP, the survey said. Apple production contributed about 79 percent to the total fruit production in the state during the current financial year. About 3.60 lakh tonne of apple was produced in April-December 2018-19 as compared to 4.47 lakh tonne in the previous year, the survey said.

Total fruit production till December 2018 in the current fiscal was at 4.06 lakh tonne, much lower compared to last year's fruit production of 5.65 lakh tonne. The 378-page Economic Survey prepared by the economics and statistics department was tabled on the fifth day of the ongoing Budget session.