AHMEDABAD: However, the state government has recently constituted a high level task force under former Union Finance Secretary Hasmukh Adhia to prepare an action plan for corrective action. GujaratEconomic contribution of the state to achieve PM Narendra Modi’s goal of 5 trillion dollar Indian economy by 2024 GSDP (Gross State Domestic Product) has to increase its growth rate by 25% per year.
However, state finance minister Kanu Desai estimated GSDP growth of 13% in his budget speech on Thursday.
Desai said, “Despite the adverse impact of the COVID pandemic, the state is expected to register an impressive double-digit GSDP growth of 13%. ,
The present share of Gujarat in India’s GDP is 8%.
To match this share towards a country reaching a $5 trillion economy, Gujarat will have to achieve a GSDP of Rs 27.5 lakh crore over two years from the current GSDP of Rs 16.5 lakh crore. According to the budget estimates, the GSDP for 2021-22 should be Rs 18.7 lakh crore, for 22-23 Rs 21.3 lakh crore and for 23-24 Rs 24.1 lakh crore.
To incorporate the Adhia committee’s suggestion for the GSDP quantum leap, the Gujarat government will have to revise all the budgetary estimates, which is also a major challenge due to several factors.
However, state finance minister Kanu Desai estimated GSDP growth of 13% in his budget speech on Thursday.
Desai said, “Despite the adverse impact of the COVID pandemic, the state is expected to register an impressive double-digit GSDP growth of 13%. ,
The present share of Gujarat in India’s GDP is 8%.
To match this share towards a country reaching a $5 trillion economy, Gujarat will have to achieve a GSDP of Rs 27.5 lakh crore over two years from the current GSDP of Rs 16.5 lakh crore. According to the budget estimates, the GSDP for 2021-22 should be Rs 18.7 lakh crore, for 22-23 Rs 21.3 lakh crore and for 23-24 Rs 24.1 lakh crore.
To incorporate the Adhia committee’s suggestion for the GSDP quantum leap, the Gujarat government will have to revise all the budgetary estimates, which is also a major challenge due to several factors.