Uttarakhand latest gdp 2019-20 Analysis
Uttarakhand gdp Analysis

Uttarakhand GDP Analysis | new unEmployment % is Shocking

Uttarakhand 2020-21 GDP is projected to be Rs 2.93 lakh crore (US$39.34 billion), as per the budget presented by Uttarakhand CM on March 4, 2020. src: prsindia.org

which is 9.5% greater as compared to Uttarakhand 2019-20 GDP as per the Ministry of Statistics and Programme Implementation is Rs 2.53 lakh crore (US$35 billion).

Nominal gdp 2019-20

Which makes it one of the fastest-growing state in the country among the Hilly region;  this growth performance is achieved by the collective effort of our all 3 sectors in which (Agriculture, Manufacturing & Tourism are large contributors)

But since 2019, covid-19 has hit hard not only on Uttarakhand Economy but its effect can be seen thought the world.

 latest GDP  stats:

gdp growth of Uttarakhand
gdp growth of Uttarakhand
YearGDP ( crore INR)GDP per capita (INR)
2019-20253,666226,145
2018-19236,768213,535
2017-18219,954200,706
2016-17195,125180,170
2015-16177,163165,588
Uttarakhand GSDP and GSDP per capita , at current prices

INTER state comparison of GDP

As per the value of GDP among the states of India — Uttarakhand stand at the 20th position ( with nominal GDP of $35billion).

Maharashtra has topped the list having $400 billion.

An amazing fact :

 the top 5 states ( Maharashtra , Tamil Nadu , UP, Karnataka, Gujarat ) accounts for 46.6% of India’s total economy.

Sectorwise GDP of Uttarakhand

The manufacturing sector is the maximum contributor to the GDP of Uttarakhand, followed by the Tertiary sector and Primary sector.

Sectorwise GDP of Uttarakhand
Sectorwise GDP of Uttarakhand

Primary sector

Agriculture is the most important sector of Uttarakhand growth, a Variety of crops are grown in Uttarakhand based on Altitudinal Zone and Climatic Zone. 86% of croplands are in plains, soybeans, wheat, pulses, Basmati rice,  groundnuts, coarse cereals,  and oilseeds are the most widely grown crop.

several initiatives have been taken both by the Central and State Government to promote: Organic Farming, Horticulture, Herb Development, Tea Cultivation, Sericulture in the hilly region.

Primary Sector % Share in the GDP
Crops4.74%
Livestock2.58%
Forestry & Logging1.39%
Fishing & aquaculture0.03%
Mining & quarrying1.46%
Uttarakhand Primary Sector, % Share in GDP

Secondary Sector

Uttarakhand is abundant in natural resource , from minerals to herbs to Forest .

the state has attracted significant FDI and has various emerging industry namely – Biotechnology, Forest-Based Industry, Agro & Food Processing Industries, Horticulture and Horticulture Industries.

Secondary Sector % Share in the GDP
Manufacturing  36.76%
Electricity, gas, water supply &  other utility services3.45%
Construction8.43%
Uttarakhand Secondary Sector, % Share in GDP

 Tertairy Sector

Uttarakhand government has framed New industrial Policy to develop world Class Tourism industry, a special statutory board has been set up -> ” Uttarakhand Tourism Board”, to make Uttarakhand a potential investment hub.

development of IT park and ITES industry, high speed internet connectivity helps the Tertiary sector to grow.

Tertiary Sector% Share in the GDP
Trade , repair, hotels & restaurants15.75%
Transport , storage, communication & broadcasting services6.54%
Financial services2.80%
Real state , ownership of dwelling & professional services5.28%
Other services6.47%
Uttarakhand Tertiary Sector, % Share in the GDP

UK Gdp &  unemployment % latest NEWS

Uttarakhand becomes 1st state in the country to assign a monetary value, Gross Environment Product, to 4 of its critical natural resources – air, water, forest, & soil. An announcement was made on World Environment day ( 5th June), “breakthrough step by Uttarakhand”, said by – Rakesh Kumar (director of NEERI)

As per a Recent SBI report, covering the first lockdown period, states: “Uttarakhand Rural GDP has registered a loss of 79%“, amounting to Nearly $5billion, ie ( 14% of GDP )

according to a survey conducted by the Centre for Monitoring Indian Economy (CMIE) Unemployment in Uttarakhand rose to 8%, in May 2020, earlier in Nov 2019  which was – 5.8%, Though it is less than the national unemployment rate of 23.5%

Thanks for Reading,

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sources:

https://statisticstimes.com/economy/india/uttarakhand-economy.php

https://statisticstimes.com/economy/india/indian-states-gdp.php

https://en.wikipedia.org/wiki/List_of_Indian_states_and_union_territories_by_GDP#cite_note-planningCommission-1

https://en.wikipedia.org/wiki/Economy_of_Uttarakhand

https://www.bloombergquint.com/economy-finance/the-best-and-worst-performing-states-of-india

https://www.wikiwand.com/en/Economy_of_Uttarakhand

https://www.ibef.org/states/uttarakhand-presentation

About the author

the pahari guy

I'm Aman - the Pahari guy,
love to write about Socio-economic issues of India, about by Home- Uttarakhand & also like to share my Experience on various Topics

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