Covid pandemic affected Gujarat’s growth rate adversely in financial year 2020-21

Gandhinagar: Due to covid-19 pandemic and related lockdowns, Gujarat recorded its low Gross State Domestic Product (GSDP) in financial year 2020-21.

Gujarat’s economy recorded a growth rate of 13.43 per cent in 2016-17, 13.87% in 2017-18, 13.08% in 2018-19 and 9.75% in 2019-20.

The GSDP growth rate was 0.57% in 2020-21 over the previous year. The country’s GDP was minus 2.97% in the same period.

CAG report for the year ended March 31, 2021 says: GSDP of Gujarat in 2020-21 at current prices was Rs. 16,58,865 crore. The per capital GSDP of the state at Rs. 2,35,969 during 2020-21 wa higher than all India average of Rs. 1,45,680 during the same period.

The State government expects over 13 per cent growth in financial year 2022-23. Finance minister Kanubhai Desai had in his budget speech recently had said, ‘the state is expected to register an impressive double digit GSDP growth of 13% despite adverse impact of Covid.’ DeshGujarat

error: Content is protected !!