Mizoram GSDP expand by more than 12% last year

Aizawl, 1 March 22 (ZRN): According to the state Economic Survey Report of 2021-2022, Mizoram’s Gross State Domestic Product (GSDP) increased by more than 12% in the financial year 2020-2021. According to the Economic Survey Report delivered by chief minister Zoramthanga in the assembly on Monday, the GSDP at constant prices is estimated to reach Rs 20,369.33 crore in 2020-2021, up from Rs 18,033.61 crore in 2019-2020, representing an increase of around 12.95 percent.

Zoramthanga Present Mizoram BudgetThe service or tertiary sector continues to have the highest contribution to the GSVA at 48 per cent. It may be mentioned that the primary sector had contributed 26 per cent, industry sector (30.64 %) and tertiary sector (43.28 %) to the GSVA in 2019-2020. According to the new economic survey report, the per capita income of the state for the fiscal 2020-2021 is projected at Rs 2,09,389 as against the previous year’s estimate of Rs 1,87,327.

The economic survey said that the state is still witnessing the fall-out of COVID-19 pandemic with the emergence of new variants of COVID-19. However, the impact of the pandemic in overall economic performance has been less destructive than the preceding year because of the timely intervention of the Central and state governments and easing up of restrictions on inter-state as well as intra-state movement of people and goods, it said.

The Gros State Value Added (GSVA) at constant (2011-12) prices has locked 12.15 per cent average annual growth rate during financial years 2011-2012 to 2021-2021, the economic survey report said. The primary sector, comprising agriculture and allied activities, contributed 25.93 per cent to the Gross State Value Added (GSVA), while the industry sector, which comprised mining and quarrying, manufacturing, construction, electricity, gas, water supply and other utility service, contributed 26 per cent to the GSVA in 2020-2021, it said.

The main determinants of the industry section like electricity, gas, water supply and other utility service sector alone contributed 15.07 per cent to the GSVA.

 

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