The net per capita income during 2010-11 is estimated to be Rs60,000 as againstRs51,858 for 2009-10. The growth in per capita income is estimated to be 15.7% as against 12% during the previous year.
The state’s economy is showing clear signs of recovery and a robust 15.7% rise in net per capita income of the citizens of Karnataka is yet another indicator of fresh optimism.
The net per capita income during 2010-11 is estimated to be Rs60,000 as againstRs51,858 for 2009-10. The growth in per capita income is estimated to be 15.7% as against 12% during the previous year.
During the year, the per capita income at current prices is also expected to attain a level of Rs67,253 as compared to the quick estimates of Rs58,582 for the previous year. This impressive growth rate has resulted in a 30% jump in the state’s own tax collections, besides catapulting the state to number one position in the per capita Plan expenditure which is at Rs5,271.
According to the Economic Survey for the year 2010-11, released by the state government, the Gross State Domestic Product (GSDP), or the state income, is expected to grow by about 8.2% and this has been mainly attributed to higher growth of primary and tertiary sectors from 3.3% and 3.7% in 2009-10 to 5.7% and 9.7% in 2010-11, respectively. The state is all set to record an impressive 8.2% growth rate in the current fiscal which is almost in line with the country’s projected growth rate.
What makes this healthy growth rate even more special is that the projected record jump in the growth of agriculture sector coincides with the first ever agriculture budget to be presented by chief minister BS Yeddyurappa on Thursday.
The smart recovery in agriculture sector is attributed to the good monsoon and higher production of food grains, especially pulses, oil seeds and sugarcane. The food grain production is expected to touch 126 lakh tonnes, a good 14% jump over the previous year’s production of 110 lakh tonnes.
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