New Delhi, 31 January (IANS). The Economic Survey 2024-25 stated on Friday that states should focus on commercial reforms on priority basis to gain an increase in industrial or service sectors.
The Economic Survey stated that Gujarat, Maharashtra, Karnataka and Tamil Nadu holds the country’s total industrial gross State Value Added (GSVA) close to 43 percent.
At the same time, except Sikkim and Assam, six Northeastern states have 0.7 percent stake in the total GVA.
“The survey requires focus on the suitable industrial strategies for unique geographical regions such as northeastern states,” the survey said.
There is a clear pattern in the degree of industrialization that some states like Gujarat, Uttarakhand and Himachal Pradesh have succeeded in capitalizing their high dependence on industrial areas to generate proper level income for their people.
The Economic Survey presented in Parliament by Finance Minister Nirmala Sitharaman said that industrialization degrees vary in different states. Some states are in a better position to take advantage of their industrial areas to generate high level of income for their population.
The survey also reported that construction activity, infrastructure development, urbanization and closely associated with real estate trends.
The survey analyzed that the mining sector contributes about 8 percent to the total industrial production.
Mining activity is highly concentrated in top five states Assam, Chhattisgarh, Gujarat, Maharashtra and Odisha, which is about 60 percent of all states mining GSVA.
Apart from this, in the Economic Survey, the country’s growth rate in FY 26 will be between 6.3-6.8 percent.
The economic survey presented before the budget is quite important. It gives information about the situation of the country’s financial health in the last one year. Also, economic trends, challenges and opportunities are told.
-IANS
ABS/
