himacha economy growth rate

Himachal expects a growth rate of 6.2% in current financial year

himacha economy growth rate

Himachal is expected to achieve a growth rate of 6.2 per cent in the current financial year, comparatively better than the national growth of five percent, says the state’s economic survey

Shimla– Himachal Pradesh’s economy is expected to grow by 6.2 percent — 1.2 percent higher than the national level — in the next fiscal, the state’s economic survey report said Wednesday.

“The economy of the state is expected to achieve a growth rate of 6.2 per cent in the current financial year which is comparatively better than the national growth of five percent,” said the report, which was tabled in the state assembly by Chief Minister Virbhadra Singh. He said the gross state domestic product at current prices in 2011-12 increased to Rs.63,812 crore from Rs.56,355 crore in 2010-11, and as per advanced estimates, it is likely to be about Rs.72,076 crore in 2012-13.

“The per capita income witnessed an increase of 10.7 percent as it increased to Rs.74,694 in 2011-12 from Rs.67,475 in 2010-11,” said Singh, who also holds the finance portfolio.

The increase in total state domestic product was mainly attributed to 20 percent increase in community and personal service sectors, 8.9 percent in transport and trade and 8.1 percent in finance and real estate.But the primary sector witnessed a fall by 5.2 percent.

In 2012-13, food production registered an increase. “The food production was 14.94 lakh tonne in 2010-11 and it increased to 15.54 lakh tonne in 2011-12. In this fiscal, it is expected to increase to 15.80 lakh tonne,” the report said. But the fruit production has decreased by 63.7 percent. It was 10.27 lakh tonne in 2010-11, while it was 3.73 lakh tonne in 2011-12. In 2012-12, the production was 4.67 lakh tonne till last December, the survey said.

“Apple constitutes about 84 percent of the total fruit production in the state. During 2012-13, 3.92 lakh tonne of apples were produced against 2.75 lakh tonne in 2011-12. It was 8.92 lakh tonne in 2010-11,” the report said.

Himachal Pradesh’s hydropower generation potential is 23,000 MW – about 25 percent of India’s total hydropower potential. However, only 8,368 MW of power has been tapped in the state. Himachal Pradesh attracted 161,463,32 tourists last year, including 500,284 foreigners, the report said. Shimla district recorded the maximum arrival of both domestic and oversea tourists, followed by Kullu and Kangra districts.

The state economy is highly dependent on hydroelectric power, horticulture and tourism. IANS

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