Karnataka's GDP to grow by about 8.2% in 2010-11

BANGALORE: The Economic Survey of Karnataka estimated its Gross Domestic Product (GSDP) at constant prices to grow by about 8.2 per cent during 2010-11, driven by higher growth in primary and tertiary sectors.

The survey report released on the eve of the state's 2011-12 budget presentation said the primary sector grew from 3.3 and 3.7 per cent in 2009-10 to 5.7 and 9.7 per cent in 2010-11.

The secondary sector made a remarkable recovery to achieve a positive growth rate of 9.3 per cent in 2009-10 and was projected to maintain a seven per cent rate in 2010-11.

The per capita Net Income (per capita NSDP at factor cost), at current prices, is estimated at Rs 60,000 for 2010-11 as against Rs 51,858 for 2009-10, the survey noted adding the growth in per capita net income was estimated at 15.7 per cent during 2010-11 as against 12 per cent during previous year.

The growth rate in per capita income is estimated at 14.8 per cent during 2010-11, against previous year's estimate of 12.3 per cent. The annual rate of inflation based on monthly WPI rose to 8.43 per cent for December 2010 compared to 6.92 per cent in the corresponding month of 2009, it stated.

During the current financial year (2010-11) from April to December, the state's own tax revenue recorded a growth of 30 per cent compared to the corresponding period of last year.

The production of food grains increased from less than 110 lakh tonnes in 2009-10 to above 125 lakh tonnes during the current year, the survey said.