Home Uttarakhand Economic survey estimates around 7.02 percent growth rate in current year

Economic survey estimates around 7.02 percent growth rate in current year

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By Our Staff Reporter
Bhararisain (Gairsain), 14 Mar: The government today tabled the state’s economic survey for the year 2022-23 on the floor of the House on the second day of the ongoing budget session of the Uttarakhand Assembly. The survey was tabled by Finance Minister Prem Chand Aggarwal. The economic survey report claims that the GSDP of the state has reached Rs 3.02 lakh crore. At the same time, the per capita income has also increased, the survey has claimed. The report further states that the growth rate of the state is expected to be around 7 percent this year. The budget for the year 2022-23 is expected to be tabled tomorrow in the House.
The Economic Survey points that the economic growth rate for the year 2022-23 is expected to remain around 7.08 percent. This is marginally better than the economic growth rate for the year 2021-22 which was 7.05 percent. The report says that per capita income increased to 2.33 lakh, which was estimated at 2.05 lakh last year. The per capita income has shown an increase of 10.05 percent over that of the last year.
Some salient points of the Economic Survey for the year 2022-23 are as under-
Uttarakhand is likely to get around Rs 9130.16 as state’s share in the Central taxes during the year 2022-23. The state’s SGDP is likely to be around Rs 3.02 lakh crore for the year 2022-23. The report also points out that the Sales Tax, Trade Tax and GST are major sources of income for the state. Out of the total receipts for the current year, the tax collection through GST and Trade Tax constitute a significant proportion of around 66 percent. The report also points out that tax collection of the state increased 56 times till the year 2021-22 from the time of state formation. The total tax collection of the state in the year 2000-01 was just Rs 235 crore whereas it has reached Rs 9327.64 crore till the month of December 2022 for the year 2022-23.
The total tax collection of the state on goods which are not covered under GST regime has been Rs 1909.31 crore till the month of December 2022 for the year 2022-23. This is 13 percent higher than the total collection made during the last financial year.
The total tax collection of the state under GST regime has been Rs 9327.64 crore till the month of December 2022 for the year 2022-23. This is significantly lower by 7 percent than the tax collection last year. The total tax settlement under IGST has been Rs 1870.79 crore till the month of December 2022 for the year 2022-23. This is 39 percent higher by than the tax settlement last year.
The total income of the state’s Stamp and Registry Department has been Rs 1454.06 crore till the month of December 2022 for the year 2022-23. This is 34.13 percent higher than the total collection made during the last financial year.
The Economic Survey says that the contribution of the primary sector to the state’s revenue for the year 2021-22 has been 12.36 percent, of the secondary sector has been 46.21 and of the tertiary sector has been 41.43 percent.  In the state’s SGDP, the growth rate in the manufacturing and construction has been 17.15 percent, in the public services like gas, power and water supply has been 13.34 percent, in the public administration has been 9.8 percent, in the services like transport, communication and broadcasting and storage has been 7.40 percent, in the immovable properties, housing and commercial services has been 8.44 percent, of other sectors has been 5.35 percent growth rate. This, according to the Economic Survey has been good growth rate whereas in the sectors like trading, hotels and restaurant, the growth rate has been just 3.73 and in the financial sector, the growth rate has been just 4.20 percent which according to the survey has been low growth.

The survey also points out that there are a total of 2.068 lakh workers in the public sector and just 98,703 registered workers in the private sector. The survey also mentions various development and infrastructure projects under progress and various schemes for skill development in various technical fields.