Himachal’s growth estimated to contract by 6.2%

Shimla, March 5 : Himachal Pradesh’s economic growth is expected to contract by 6.2 per cent this fiscal as against 5.6 per cent in the previous one, while its per capita income is estimated to drop by 3.7 per cent to Rs 1,83,286 for 2020-21, Chief Minister Jai Ram Thakur informed the Assembly on Friday.
Tourism, which plays an important role in revenue generation and livelihood in the hill state, was the worst hit due to the Covid-induced lockdowns.
The Gross State Domestic Product at current prices is estimated to be Rs 162,816 crore in 2019-20 as against Rs 149,442 crore in 2018-19, showing the growth rate of 8.9 per cent during the year.
The per capita income in the state at current prices for 2019-20 is estimated to be Rs 190,407 against Rs 176,460 in 2018-19, a growth of 7.9 per cent as compared to 6.6 per cent in 2018-19, said the Economic Survey 2020-21 report that was tabled in the Assembly by Thakur, who also holds the finance portfolio, a day before the presentation of the state Budget.
He said owing to Covid-19 the per capita income at current prices is estimated to drop by 3.7 per cent to Rs 183,286 for 2020-21.
Himachal Pardesh’s economy is highly dependent on hydroelectricity, horticulture and tourism.