Growth rate falls to single digit, at 8.5%

In the last three years, Gujarat's growth seems to have slowed down considerably. The latest edition of Socio-Economic Review of the state shows Gross State Domestic Product (GSDP) has registered a single-digit growth of 8.5% for the year 2011-12.

The GSDP grew at a rate of 10% and 11.2% during the years (at constant prices) 2010-11 and 2009-10, respectively.

The drop in growth rates of both agriculture and manufacturing sectors seems to have pulled down the growth figures for the state. "The estimates of State Domestic Product at constant prices are prepared by evaluating the product of the current year with base year prices in order to eliminate the effect of price changes and to measure the real growth of the economy," the review states.

The growth in per capita income has slowed down. The per capita income at constant prices has been estimated at Rs 57,508 in 2011-12, as against Rs 53,789 in 2010-11, which means it grew by 6.9%, significantly lower than 9.4% and 12.6% recorded during the years 2010-11 and 2009-10, respectively.

Assocham for private investment in agriculture

A joint report released by industry body Assocham and Yes Bank on "Technology: Harbinger of the Evergreen Revolution" suggests that the state government change its agricultural policy to attract private investments, both domestic and foreign, to boost India's agricultural productivity. The report released on Thursday says that public-private partnership is the only tool for adequate infrastructural investment and capital formation in agriculture.

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