North East

Tripura GSDP registers high growth amidst global slowdown

Tripura-GSDP

Quick estimates show of rises. Government initiatives for revenue generation, boosting farming, tea, sector played a role. 

Enewstime Desk

Agartala, February 13, 2020: Tripura maintained uptrend in its Gross State Domestic Product  (GSDP) during 2019-20 FY despite global slowdown. In a quick estimate, GSDP stands at Rs 57,353 crore in 2019-20 compared to GSDP of Rs 50,544 crore (provisional). In a tweet message, Chief Secretary of Tripura Manoj Kumar revealed this.

Manoj Kumar, in his tweet said, “Tripura (is) on high growth path despite global slow down!” His message included a graph detailing about GSDP growth over the years.

Tripura GSDP Data

Information shared by the Chief Secretary showed that GSDP of Tripura, as per quick estimate, would increase to Rs 57,353 crore in 2019-20 from provisional GSDP of Rs 50,544 crore estimated for 2018-19.

In the backdrop of global slowdown and relatively slower GDP of the nation, rise in GSDP of the State during 2019-20 by more than Rs 7000 crore is quite encouraging, experts opined.

Tripura-GSDP

Tripura GSDP increases

Going by the information provided by the Chief Secretary, it is clear that GSDP of the State made a quantum jump during 2017-18 compared to 2016-17. GSDP in 2016-17 stood at Rs 39,514. It increased to Rs 44,161 crore in 2017-18.

Growth rate during 2018-19 was also noticeable. The GSDP rose to Rs 50,544 crore (provisional) in 2018-19 registering a growth by more than Rs 6000 crore.

State Govt initiatives

The sustainable growth trend is reflection of State Government’s unabated endeavour in improving economic factors of the State through multi-facet development strategies. Also, thrust of Revenue generation and reduction in reliance of Central Government funds made significant contribution in the State economy. With concerted effort and plans, State revenue notched a growth from 9.8 per cent to 26 per cent in last two years.

With a good harvest season along with FCI procurement of paddy, State Agriculture received a major boost and contributed to GSDP. Export of ‘queen’ variety pineapple was another contributing factor. Emphasis on lemon cultivation also accrued positive results. Decision to distribute state grown tea through Fair Price Shops was another step that will immensely help in revival of dying of the State.

State Government’s stress on developing tourism sector and aggressive marketing for it also paid dividend as number of tourist footfalls steadily increased since 2018.

All these factors combined together seem effective enough to keep the growth rate afloat even in the wake of global economic turmoil, experts opined.



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