Goa’s growth rate declining; agro and fishing in crisis
GOANEWS DESK, PANAJI | 25 July 2016 22:04 IST
Goa’s growth rate has started declining once again, sounding a warning bell to the financial managers in the government.
The major sectors affecting the economic growth are mining, agriculture and fishing.
All the three sectors have shown negative growth in the Economic Survey released by the Laxmikant Parsekar government today.
The fiscal deficit has also increased by Rs 604 crore in one year.
The figures released in the Economic Survey are a matter of concern as far as primary sector is concerned. It is not a growth, but a decline of -16%.
There is little growth in the secondary sector of manufacturing, 5.60% to 6.73%, which is hardly 1.13% more.
Even the tertiary sector of service industry is showing little growth, not even 1%.
SECTOR-WISE GROWTH OF GOA
|
SECTOR |
2013-14 |
2014-15 |
DIFFERENCE |
|
Primary |
9.86 % |
- 16.44 % |
- 26.30 % |
|
Secondary |
5.60 % |
6.73 % |
1.13 % |
|
Tertiary |
8.64 % |
9.55 % |
0.91 % |
|
TOTAL |
7.71 % |
7.37 % |
0.34 % |
Further break-up of the Primary sector of the last three years is equally frightening.
The agriculture sector had shown a positive growth of plus 4.51% in 2013-14 from the decline of -3.84% the previous year. But now again it has declined to -6.38%.
Similar is the fate of fishing industry. From the decline of -11.05%, it was showing positive growth of almost 39%. But once again, it is being pushed into negative growth, which is -0.5%. It means actual decline of 39.2%.
Mining is yet another shocker. The growth in 2012-13 was obviously -69% because there was a ban on mining activity.
But it had improved substantially in 2013-14 with a positive growth of 0.17%.
Now, once again, it is being pushed into negative growth of -56%. The figure of 2015-16 is yet to come.
The only positive growth is in the forestry. It is growing gradually, from 9 to 10 to 14%.
GROWTH/DECLINE OF PRIMARY SECTOR
|
PRIMARY |
2012-13 |
2013-14 |
2014-15 |
|
Agriculture |
-3.84 % |
4.51% |
-6.38% |
|
Fishing |
-11.05% |
38.72% |
-0.50% |
|
Mining |
-68.56% |
0.17% |
-55.59% |
|
Forestry |
9.48% |
10.37% |
13.78% |
|
TOTAL |
-39.89% |
9.86% |
-16.44% |
The Economic Survey also states that the overall fiscal deficit of the state of Goa has increased than the last year.
It was Rs 948 crore in 2014-15. But that has now increased to Rs 1553 crore.
It means the fiscal deficit has increased by Rs 604 crore.
FISCAL DEFICIT OF GOA
|
2014-15 |
Rs 948.62 Cr |
|
1015-16 |
Rs 1552.76 Cr |
|
Difference |
Rs 604.14 Cr |
Drop a comment
Latest News
- Goa police arrest Kenneth for FB post that Parrikar is dead
- A victim boy exploited by women, ‘Juze’ is a real story: Miransha
- Why Goa Assembly’s media guidelines sound to be a cruel Joke!
- SC again stops Goa mining from 16 March, orders fresh ECs & recover dues
- Shuttle Life- A Hard Hitting Pukka Drama
- Newton - Jhande aur Dande se desh banta hai
- Closeness (Tesnota) - 2017 : Grim, and often way too real
- Scaffolding (Pigumim)- Refreshingly Different
- A Party You Wouldn’t Want To Miss
- Summer 1993: Heartening tale of AIDS stigma
Finance
- PM Modi withdraws Rs 500, Rs 1000 currency notes from midnight
- Petrol up by Rs 1.34, Diesel by Rs 2.37
- Goa would implement 7th Pay, provision made: CM
- Is it possible to implement 7th Pay Commission in Goa?
- Union cabinet approves 7th Pay report, 23.55% rise
- Parsekar reduces VAT on petrol to 15%, to keep it @ Rs 60
- Petrol up in India, Goa reduces VAT to bring it below Rs 60
- Petrol little cheap, Diesel becomes much cheaper
- Banks may cut interest rates in next few days
- Rupee hits highest point of 2016; 3 factors aiding this rise
