Our Correspondent
Kohima | January 2
The Gross State Domestic Product (GSDP) at the current price increased from Rs. 1988398 lakhs during 2015-16 (Provisional) to Rs. 2156245 lakhs during 2016-2017 (Quick Estimate) in Nagaland registering an annual growth rate of 8.44 per cent as against the previous year growth rate of 8.06 per cent.
However, as per the Advanced Estimates (AE) of 2017-2018 the GSDP is estimated at Rs. 2360278 lakhs indicating a growth rate of 9.46 per cent.
According to the annual administrative report of economics & statistics 2017-18, the real growth of an economy which is measured by the GSDP at constant prices indicated an increasing trend during 2012- 2013 to 2013-2014.
During 2015-2016 (P) in real terms it recorded Rs. 1500857 lakhs against Rs. 1439877 lakhs in 2014-2015 registering a growth rate of 4. 24 percent.
The GSDP at constant price is further estimated to have increased to Rs. 1557855 lakhs during 2016-17 (QE) with a growth rate of 3.80 per cent, which is below the national annual average growth rate of about 6 to 7 per cent.
However, during 2017-18 (AE), the GSDP at constant price is anticipated to grow by 6.46 percent.
The fall in the growth of the GSDP during 2016-17 (QE) is on account of slowdown in the growth rate of secondary sector to 3.65 percent during 2016-17 (QE) against 23.68 percent in 2015-16 (P) coupled with a negative growth of -0.87, -4.58 and -2.67 percent respectively in the crops, livestock and forestry sector respectively.
The report stated that the Per Capita GSDP at current price has increased from Rs.102727 in 2016-17 (QE) to Rs. 111229 during 2017-2018 (AE). The annual growth rate of the Per Capita Income is estimated at 8.28 per cent.
