Growth Overview of Himachal Pradesh: Himachal Pradesh Economic Survey 2020-21

Growth Overview: India

GDP at Constant Prices

• GDP at Constant Prices (2018-19): ₹140.03 lakh crore
• GDP at Constant Prices (2019-20): ₹145.69 lakh crore(Growth Rate: 4.0 %)
• Expected GDP at Constant Prices (2020-21): -7.7 %

GDP at Current Prices

• GDP at Current Prices(2018-19) : ₹188.87 lakh crore
• GDP at Current Prices(2019-20) : ₹203.51 lakh crore (Growth Rate: 7.8 %)

GVA at Constant Base Prices

• GVA at Constant Base Prices(2018-19): 5.9 % growth
• GVA at Constant Base Prices(2019-20): 4.1 % growth

Per Capita Net National Income

• Per Capita Net National Income (2018-19): ₹92,241
• Per Capita Net National Income (2019-20): ₹ 94,566 (Growth Rate: 2.5%)

Reason behind decline in Growth Rate of India:

• Lower growth in “Mining Quarrying”, “Manufacturing”, “Electricity, Gas, Water Supply & Other Utility Services”,  “Construction” “Trade, Repair, Hotel &  Restaurant” and “Financial Services”.

Overview of Himachal Pradesh Economy:

Due to the impact of pandemic covid-19 the economy of the State is expected to have a negative growth of 6.2 percent in the current financial year 2020-21.

Gross State Domestic Product (GSDP) at Constant prices:

• Gross State Domestic Product (GSDP) at Constant prices (2018-19): ₹ 1,16,570 crore
• Gross State Domestic Product (GSDP) at Constant prices (2019-20): ₹1,22,284 crore (Growth: 4.9%)

Gross State Domestic Product (GSDP) at current prices

• Gross State Domestic Product (GSDP) at current prices (2018-19): ₹1,49,442 crore
• Gross State Domestic Product (GSDP) at current prices (2019-20): ₹ 1,62,816 crore (Growth: 8.9%)

Share of Different Sectors:

• Share of Agriculture: Percentage contribution of agriculture in total State Domestic Product has declined from 57.9 per cent in 1950-51 to 55.5 per cent in 1967-68, 5 per cent in 1990-91 and to 10.05 per cent in 2019-20.
• Share of Industries and Service Sector: The share of industries and services sectors which was 1.1 & 5.9 per cent respectively in 1950-51 increased to 29.2 and 43.5 per cent respectively in 2019-20.