JAMMU, Mar 5:The State is expected to grow at a rate of 7.01 per cent in the current financial year, the State Economic Survey report 2012-13 tabled in the Assembly today said.
“The State economy is targetted to grow at 7.01 per cent during 2012-13 as compared to 6.22 per cent in 2011-12”, the report revealed. In 2010-11, the state economy grew at 5.96 per cent, it said.
Giving further details, at constant 2004-05 prices, the agriculture sector (Agriculture and livestock only) is likely to grow at 4.27 per cent (Advanced Estimates) as compared to 4.23 per cent in 2011-12.
The industries sector is likely to grow at 3.17 per cent and service sector, the major contributor to the state economy, is likely to grow by 10.10 per cent which has helped to maintain the growth momentum of the state economy.
As per Advance Estimates, Gross State Domestic Product (GSDP) at constant (2004-05) prices is estimated at Rs 43,62,783 lakh for 2012-13 as against Rs 40,77,083 lakh in the year 2011-12 (advance estimates).
The GSDP at current prices is estimated at Rs 76,11,529 lakh in 2012-13 (advance estimates), thereby targeted to grow at 15.36 per cent.
The sectoral structure of GDP at constant (2004-05) prices and its analysis indicate that in 2012-13 (advance estimates), the estimated percentage contribution of agriculture and allied, Industry and service sectors are likely to be 20.56 percent, 24.55 per cent, and 54.89 per cent respectively. (AGENCIES)
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