Business News | Chhattisgarh Economic Survey Projects GSDP Growth at 7.5% in 2024-25
Get latest articles and stories on Business at LatestLY. Chhattisgarh's economy is continuously growing, and this year, it is expected to gain even more momentum. According to the Economic Survey 2024-25 presented by the state government on Friday, the state's economic growth rate is estimated to be 7.51 per cent this year.
Raipur (Chhattisgarh) [India], February 28 (ANI): Chhattisgarh's economy is continuously growing, and this year, it is expected to gain even more momentum. According to the Economic Survey 2024-25 presented by the state government on Friday, the state's economic growth rate is estimated to be 7.51 per cent this year.
The state's income from trade, industries, and agriculture is steadily increasing, leading to higher earnings and an improved standard of living for the people.
The total economic output of Chhattisgarh, measured by Gross State Domestic Product (GSDP), is expected to see significant growth this year. Last year, the state's GSDP was Rs 306,712 crore, and it is projected to reach Rs 329,752 crore this year.
It indicates a continuous rise in new industries, factories, and business opportunities across the state.
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Chhattisgarh's economy stands on three major pillars - agriculture, industry, and services - all of which are expected to perform exceptionally well this year, according to the Economic Survey.
This year - 2024-25, the agriculture, animal husbandry, and forestry sector is expected to grow by 5.38 per cent. In 2023-24, this sector was valued at Rs 48,987 crore, and this year, it is projected to reach Rs 51,621 crore.
The number of industries in the state is rapidly increasing.
The industrial sector is expected to grow by 6.92 per cent this year, reaching a total value of Rs 147,172 crore.
"The establishment of new factories and companies will create more employment opportunities for the youth," the Economic Survey said.
Sectors like banking, tourism, and IT are experiencing a significant boost.
The services sector is expected to grow by 8.54 per cent, reaching a value of Rs 108,461 crore. With the expansion of tourism and digital services, this sector holds even greater potential for future growth.
"Chhattisgarh's rapid economic progress proves that the state is developing at an impressive pace. If this momentum continues, Chhattisgarh could soon be among the fastest-growing states in India. This is not just a matter of pride for the people of Chhattisgarh but for the entire nation," the state government said.
Not only is Chhattisgarh's economy expanding, but people's incomes are also rising. The per capita income in 2023-24 was Rs 148,922. It is expected to reach Rs 162,870 in 2024-25.
This means that people's earnings will increase by 9.37 per cent. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)