MP growth slows, jobs decline & per capita up: Economic Survey

28 Feb 2018

BHOPAL: The state’s growth juggernaut that registered almost double digit growth in the last decade slowed down and so has employment generation, says the Madhya Pradesh Economic Survey tabled in the state assembly on Tuesday. The report says, Gross State Domestic Product (GSDP) which was 14% in 2016-17 compared to 2015-16, declined to almost half at 7.30% in 2017-18.

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The survey states GSDP growth at constant prices during the base year 2011-12 was at Rs 3,15,562 crore which had risen to Rs 4,65,136 crore in 2016-17, a 14.01% growth. The latest GSDP figures are pegged at Rs 4,99,102 crore, an increase of 7.30% growth, almost half of the previous year’s rate.

“The GSDP at current price was Rs 6,39,220 crore in 2016-17 which rose to Rs 7,07,047 crore, an increase of around Rs 68,000 crore more,” says the report.

The report also states an increase of 5.79% in per-capita income from Rs 52,406 net in 2016-17 to Rs 55,442 (advance) in 2017-18. As per provisional rates, the per capita income of Rs 73,268 in 2016-17 has increased 9.06% to Rs 79,907 in 2017-18.

As per the budget estimates of FY 2017-18, the total revenue receipts were estimated at Rs 1,39,115.67 crore which is 10.36% higher than previous year while the total debt on the state till March 31, 2017 was estimated at Rs 92,320.48 crore.

The economic survey also highlighted about a steep decline in the employment in Madhya Pradesh. Of the total 11.24 lakh educated unemployed, only 422 applicants were given job till 2017 end.

“There are 52 employment centres across the state in which 14.11 lakh youths are registered as unemployed. Of these, 129 youth from general category, 19 from SCs and 32 from STs were given employment in 2016,” read the report.

The government had also made efforts to generate employment through Skill India and schemes related to agriculture. In the state budget for 2018-19, it is expected that the government would focus on generating more employment and skill development programmes.

As a result of decline in GDP and economic reforms, the government is seeking ways to fill the coffer through more taxes. The government is prepared to increase the land revenue and taxes on luxury goods in the state budget, to be tabled in the house, on Wednesday.
At the same time, the survey highlighted an expansion of nationalised banks, besides, an increase in advances and deposits. In first three quarters, from FY 2015-16 to 2017-18, an increase of 6.58% in deposits and 11.86% in advances has been reported. Bank credits have risen to 74.28% in 2017 which is 60% of the national standard, states the report.
“A total of 89 bank branches have been added in 2017-18 in comparison to 111 semi-urban and 241 urban branches in 2016-17,” according to the report.

The economic survey also shows a significant growth in the income of state Tourism Development Corporation, where 5.92 crore tourists were registered during 2017-18. It also highlighted encouraging figures of welfare schemes under Swachh Bharat Mission, Woman Empowerment scheme, Lado Abhiyan, Shaurya Dal, Dastak Abhiyan and AMRUT Mission.


Reference: https://timesofindia.indiatimes.com/city/bhopal/mp-growth-slows-jobs-decline-per-capita-up-economic-survey/articleshow/63101690.cms

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