 "Gujarat GSDP growth at 8%, per capita income up 6.6%")
While Gross State Domestic Product (GSDP) of Gujarat rose by 8 per cent in 2012-13 compared to 2011-12, the per capita income of also grew by 6.6 per cent during the same period. This was revealed in the Socio-Economic Review of Gujarat State for 2013-14 tabled in the state assembly.
As per the quick estimates, the GSDP at constant prices (2004-05) for 2012-13 has been estimated at Rs 427,219 crore as against Rs 395738 in 2011-12, registering a growth of 8 per cent. This shows a marginal increase from 7.7 per cent GSDP growth in 2011-12. GSDP at current prices in 2012-13 has been estimated at Rs 670,016 crore against Rs 594,563 crore in 2011-12 registering a growth of 12.7 per cent.
The share of primary, secondary and tertiary sectors has been reported at 12.8 per cent, 37.5 per cent and 49.7 per cent respectively of the total GSDP in 2012-13 at constant prices.
The per capital income at constant prices (2004-05) has been estimated at Rs 61,220 in 2012-13 as against Rs 57,447 in 2011-12 registering a growth of 6.6 per cent. The figures indicated a marginal decrease in growth of per capita income of the state compared to 2011-12. In the year 2011-12 growth in per capita income was 6.8 per cent at constant prices over the previous fiscal. That is the per capita income had increased from Rs 53,813 in 2010-11 crore to Rs 57,447 crore in 2011-12.
Gujarat finance minister Saurab Patel on July 1 presented a Rs 133,465 crore budget in the state assembly with focus on women, social sector and employment generation. Patel said that the government aims to equip the youth through education and training in agriculture and animal husbandry, small and medium scale industries and encouraging their entrepreneurship to createemployment on a large scale.
As far as the public debt was concerned the government has estimated that it would rise from Rs 1.5 lakh crore in 2013-14 to Rs 1.5 lakh crore by the end of financial year 2014-15. However, the public debt as percentage of GSDP is likely to come down to 19.13 per cent at the end of 2014-15 from 19.40 per cent in 2013-14. The public debt as percentage of GSDP has been on a decline since 2009-10 due to prudent fiscal management of the state government. From 22.73 per cent in 2009-10, the public debt as percentage of GSDP has come down to 19.40 per cent in 2013-14.
Even the interest payment on public debt to revenue receipts have come down to 14.10 per cent in 2013-14 from 26.82 per cent in 2004-05.
According to Patel 2014-15 budget would be the first budget of the state where the plan expenditure would be more than the non-plan expenditure. Comparing the plan and non-plan expenditures over the last decade the finance minister pointed out that in 2004-05 the plan expenditure was Rs 9,490 crore, which grew at 22.3 per cent CAGR over 10 years and was Rs 71,330 crore in 2014-15. Whereas, non-plan expenditure which was Rs 29,608 crore in 2004-05 grew at CAGR of 8.8 per cent and in 2014-15 was estimated at Rs 68,946 crore.
The state’s own revenue receipts (SORR) has been estimated at Rs 72,581 crore for 2014-15 from Rs 12,959 crore in 2004-05.
Over the last decade the SORR grew at CAGR of 18.8 per cent.
As per the quick estimates, the GSDP at constant prices (2004-05) for 2012-13 has been estimated at Rs 427,219 crore as against Rs 395738 in 2011-12, registering a growth of 8 per cent. This shows a marginal increase from 7.7 per cent GSDP growth in 2011-12. GSDP at current prices in 2012-13 has been estimated at Rs 670,016 crore against Rs 594,563 crore in 2011-12 registering a growth of 12.7 per cent.
The share of primary, secondary and tertiary sectors has been reported at 12.8 per cent, 37.5 per cent and 49.7 per cent respectively of the total GSDP in 2012-13 at constant prices.
The per capital income at constant prices (2004-05) has been estimated at Rs 61,220 in 2012-13 as against Rs 57,447 in 2011-12 registering a growth of 6.6 per cent. The figures indicated a marginal decrease in growth of per capita income of the state compared to 2011-12. In the year 2011-12 growth in per capita income was 6.8 per cent at constant prices over the previous fiscal. That is the per capita income had increased from Rs 53,813 in 2010-11 crore to Rs 57,447 crore in 2011-12.
Gujarat finance minister Saurab Patel on July 1 presented a Rs 133,465 crore budget in the state assembly with focus on women, social sector and employment generation. Patel said that the government aims to equip the youth through education and training in agriculture and animal husbandry, small and medium scale industries and encouraging their entrepreneurship to createemployment on a large scale.
As far as the public debt was concerned the government has estimated that it would rise from Rs 1.5 lakh crore in 2013-14 to Rs 1.5 lakh crore by the end of financial year 2014-15. However, the public debt as percentage of GSDP is likely to come down to 19.13 per cent at the end of 2014-15 from 19.40 per cent in 2013-14. The public debt as percentage of GSDP has been on a decline since 2009-10 due to prudent fiscal management of the state government. From 22.73 per cent in 2009-10, the public debt as percentage of GSDP has come down to 19.40 per cent in 2013-14.
Even the interest payment on public debt to revenue receipts have come down to 14.10 per cent in 2013-14 from 26.82 per cent in 2004-05.
According to Patel 2014-15 budget would be the first budget of the state where the plan expenditure would be more than the non-plan expenditure. Comparing the plan and non-plan expenditures over the last decade the finance minister pointed out that in 2004-05 the plan expenditure was Rs 9,490 crore, which grew at 22.3 per cent CAGR over 10 years and was Rs 71,330 crore in 2014-15. Whereas, non-plan expenditure which was Rs 29,608 crore in 2004-05 grew at CAGR of 8.8 per cent and in 2014-15 was estimated at Rs 68,946 crore.
The state’s own revenue receipts (SORR) has been estimated at Rs 72,581 crore for 2014-15 from Rs 12,959 crore in 2004-05.
Over the last decade the SORR grew at CAGR of 18.8 per cent.