DIMAPUR:
Nagaland’s Gross State Domestic Product (GSDP) has picked up from a negative growth of -2.63 per cent in 2020-21 to 8.98 per cent in 2021-22, revealed director, economics and statistics, Neidilhou Angami, in Kohima on September 21.
The economics and statistics department released the GSDP of Nagaland for the year 2021-2022 at the press conference at the directorate of economics and statistics in Kohima.
Angami said the advanced estimates suggest that the growth of the state’s economy has surpassed the pre-pandemic average growth of 5.38 percent (2011-12 to 2019-20) despite the second wave of the pandemic that plagued the economy during the first quarter of 2021-22.
According to the department, in absolute numbers, the real growth of the economy is estimated to increase from Rs 17991.61 crore in 2020-21 (provisional) to Rs 19607.83 crore in 2021-22 (advanced estimates). Correspondingly, the nominal growth of the economy is estimated to have increased from Rs 30425.11 crore in 2020-21 to Rs 33705.84 crore in 2021-22 (advanced estimates).
It said the sectoral contribution indicated that the structural change of the economy was slowly shifting towards the tertiary sector of the economy. The primary sector contribution to GSVA (gross state value added) overtime has declined from 31.4 percent in 2011-12 to 26.88 percent in 2021-22 (advanced estimates).
On the other hand, the contribution of the secondary sector has been hovering around 9 per cent to 12 per cent since 2011-12, reaching a peak of 12.90 per cent in 2017-18. The share of the tertiary sector which has contributed 56.17 per cent to the GSVA in 2011-12 has steadily increased to 62.77 per cent in 2021-22 (advanced estimates).
The sub-sector secondary sector comprising manufacturing, electricity, gas, water supply and other utility services, and construction, during 2021-22 is estimated to pick up from a negative of -9.12 per cent in 2020-21 to 9.36 per cent in 2021-22. The contribution from the manufacturing sector to GSVA was estimated at 1.62 per cent only in 2021-22.
During 2021-22 (advanced estimates), the sub-sector is estimated to grow by 9.43 per cent. The growth in the construction sector is estimated to pick up from -14.26 per cent in 2020-21 to 8.15 per cent in 2021-22 (advanced estimates), with the construction sector share in GSVA estimated at 6.04 per cent in 2021-22.
The department also revealed that over past 10 years, the per capita income of the state has increased from Rs 53,010 in 2011-12 to Rs 1,35,701 in 2021-22 (advanced estimates), achieving a compound annual growth rate (CAGR) of 9.86 per cent.