Gujarat Economy Updated Data- Must for GPSC Prelims and Mains Exam

Gujrat:economy updates

Gross State Domestic Product

The Gross State Domestic Product of Gujarat for 2018-19 (at current prices) is estimated to be Rs 14,96,013 This is 13.3% higher than the revised estimate for 2017-18.Note that the GSDP in 2017-18 is expected to be 3.5% higher than what was estimated at the budget stage.

Total expenditure

Total expenditure for 2018-19 is estimated to be Rs 1,81,945 crore, an 8.6% increase over the revised estimate of 2017-18. In 2017-18, the revised estimates indicate that the expenditure is expected to be Rs 3,221 crore lower than the budget estimate.

Total receipts

Total receipts (excluding borrowings) for 2018-19 are estimated to be Rs 1,40,927 crore, an increase of 6.8% as compared to the revised estimates of 2017-18. In 2017-18, total receipts (excluding borrowings) exceeded the budgeted estimate by Rs 145 crore.

The total Revenue Receipts

Total revenue receipts for 2018-19 are estimated to be Rs 1,40,631 crore, an increase of 6.9% over the revised estimates of 2017-18. Of this, Rs 1,00,434 crore (71% of the revenue receipts) will be raised by the state through its own Resources, and Rs 40,197 crore (29% of the revenue receipts) will be devolved by the centre in the form of grants and the state’s share in taxes.

Revenue surplus

Revenue surplus for the next financial year is targeted at Rs 5,998 crore, or 0.4% of the Gross State Domestic Product (GDP). Fiscal Deficit is targeted at Rs 25,584 crore (1.7% of GSDP).

Mukhyamantri Gramoday Yojana

Under the new Mukhyamantri Gramoday Yojana, government will provide interest subvention upto 6% to train 50,000 skilled and semi-skilled workers in rural areas. An additional 2% interest subvention will be provided to Women, Scheduled Castes, Scheduled Tribes and persons with disabilities.

Economic Growth rate

The Gross State Domestic Product (GSDP) of Gujarat declined from 10.5% in 2014-15 to 10.1% in 2016-17.

Sectoral contribution to economy

Manufacturing sector has the maximum contribution (45%) to GSDP. Services and agriculture contribute 36% and 19% to GSDP, respectively. Growth in manufacturing declined by 6% between 2014-15 and 2016-17.

Per Capita GSDP

Per capita GSDP in 2016-17 was Rs 1,51,362 crore. It declined from 9.1% in 2014-15 to 8.6% in 2016-17.

Revenue Expenditure

Revenue expenditure for 2018-19 is proposed to be Rs 1,34,633 crore, which is an increase of 7.2% over revised estimates of 2017-18. This expenditure includes payment of salaries and pensions, and maintenance of existing Infrastructure-2/”>INFRASTRUCTURE. In 2017-18, Gujarat’s Capital Expenditure was 7.4% lower than its budget estimates, while the revenue expenditure was marginally higher (0.1%).

Non-Tax Revenue

Gujarat has estimated to generate Rs 11,705 crore through non-tax sources in 2018-19. This is a decrease of 31% over the revised estimates of 2017-18. It is majorly driven by a decrease of Rs 5,734 crore (58%) in non ferrous mining and metallurgical industries.

Tax Revenue

Total own tax revenue of Gujarat is estimated to be Rs 88,729 crore in 2018-19. The composition of the state’s tax revenue is shown in Figure 2. The tax to GSDP ratio is targeted at 5.93% in 2018-19, which is similar to the revised estimate of 5.91% in 2017-18.

Revenue surplus

It is the excess of revenue receipts over revenue expenditure. A revenue surplus implies that the government is not required to borrow in order to finance its expenses which do not create capital assets.

The budget estimates a revenue surplus of Rs 5,998 crore (0.4% of GSDP) in 2018-19. This implies that revenue receipts are expected to be higher than the revenue expenditure, resulting in a surplus. The 14th Finance Commission had recommended that states should eliminate revenue deficits. The estimates in the Gujarat Budget 2018-19 suggest that the state is expected to achieve this target of eliminating Revenue Deficit.

Fiscal deficit

It is the excess of total expenditure over total receipts. This gap is filled by borrowings by the government, and leads to an increase in total liabilities. In 2018-19, fiscal deficit is estimated to be Rs 25,584 crore, which is 1.7% of the GSDP. This estimate is under the 3% limit prescribed by the 14th Finance Commission.

Education budget

Gujarat has allocated 13.9% on education in 2018-19. This is lower than the Average expenditure allocated to education by 18 other states (using 2017-18 BE).

Health budget

Gujarat has allocated 4.5% of its total expenditure on health, which is marginally lower than the average expenditure of 18 other states.

Agriculture budget

The state has allocated 3.3% of its total budget on agriculture and allied activities. This is lower than the allocations of 18 other states (6.4%).

Allocation for Rural development

Gujarat has allocated 3.0% of its expenditure on rural development. This is significantly lower than the average (5.6%) of the 18 other states.

Gujarat is a state in northwestern India. It is the fifth-largest state by area and the ninth-most populous state in India. The state is bordered by Rajasthan to the west, Madhya Pradesh to the south, Maharashtra to the southeast, and the Union Territory of Dadra and Nagar Haveli and Daman and Diu to the south. The Arabian Sea lies to the west of the state. The capital and largest city of Gujarat is Gandhinagar.

Gujarat is a major economic and industrial hub in India. The state has a diversified economy, with strengths in agriculture, manufacturing, and services. Gujarat is also a major exporter of goods and services.

The state’s economy is the sixth-largest in India, with a gross state domestic product (GSDP) of â¹20.93 lakh crore (US$280 billion) in 2019â20. The state’s per capita income is â¹1,63,259 (US$2,200) in 2019â20.

Gujarat is a major agricultural state. The state’s main crops are Cotton, groundnut, rice, and wheat. Gujarat is also a major producer of milk, sugar, and vegetables.

The state’s manufacturing sector is the second-largest in India. The state’s main industries are textiles, chemicals, pharmaceuticals, and engineering. Gujarat is also a major producer of automobiles and electronics.

The state’s services sector is the largest in India. The state’s main services are finance, insurance, real estate, and tourism. Gujarat is also a major center for information technology and business process Outsourcing.

Gujarat is a major transportation hub in India. The state has a well-developed road, rail, and air Network. The state is also home to two major Ports, Kandla and Mundra.

Gujarat is a major tourist destination in India. The state has a number of historical and cultural sites, as well as natural attractions. The state is also home to a number of festivals, including the Navratri festival and the Rann Utsav.

Gujarat is a diverse state with a rich history and culture. The state is home to a number of different ethnic groups, languages, and religions. Gujarat is also a major center for education and research.

Gujarat is a rapidly developing state with a bright future. The state has a number of strengths, including a strong economy, a skilled workforce, and a favorable Investment Climate. Gujarat is poised to play a major role in India’s Economic Development in the years to come.

Here are some of the key facts about Gujarat’s economy:

Gujarat is the sixth-largest economy in India, with a gross state domestic product (GSDP) of â¹20.93 lakh crore (US$280 billion) in 2019â20.
The state’s per capita income is â¹1,63,259 (US$2,200) in 2019â20.
Gujarat is a major agricultural state. The state’s main crops are cotton, groundnut, rice, and wheat. Gujarat is also a major producer of milk, sugar, and vegetables.
The state’s manufacturing sector is the second-largest in India. The state’s main industries are textiles, chemicals, pharmaceuticals, and engineering. Gujarat is also a major producer of automobiles and electronics.
The state’s services sector is the largest in India. The state’s main services are finance, insurance, real estate, and tourism. Gujarat is also a major center for information technology and business process outsourcing.
Gujarat is a major transportation hub in India. The state has a well-developed road, rail, and air network. The state is also home to two major ports, Kandla and Mundra.
Gujarat is a major tourist destination in India. The state has a number of historical and cultural sites, as well as natural attractions. The state is also home to a number of festivals, including the Navratri festival and the Rann Utsav.
Gujarat is a diverse state with a rich history and culture. The state is home to a number of different ethnic groups, languages, and religions. Gujarat is also a major center for education and research.
Gujarat is a rapidly developing state with a bright future. The state has a number of strengths, including a strong economy, a skilled workforce, and a favorable investment climate. Gujarat is poised to play a major role in India’s economic development in the years to come.

Here are some frequently asked questions and short answers about the Gujarat economy:

What is the size of the Gujarat economy?
The Gujarat economy is the sixth largest economy in India, with a GDP of $200 billion.
What are the major sectors of the Gujarat economy?
The major sectors of the Gujarat economy are agriculture, manufacturing, and services.
What are the major challenges facing the Gujarat economy?
The major challenges facing the Gujarat economy are infrastructure, education, and healthcare.
What are the major opportunities for the Gujarat economy?
The major opportunities for the Gujarat economy are tourism, RENEWABLE ENERGY, and technology.
What are the major government initiatives to promote economic growth in Gujarat?
The major government initiatives to promote economic growth in Gujarat are the Vibrant Gujarat Global Summit, the Gujarat Industrial Development Corporation, and the Gujarat State Road Development Corporation.
What are the major achievements of the Gujarat government in promoting economic growth?
The major achievements of the Gujarat government in promoting economic growth are the following:
Gujarat has the highest per capita income in India.
Gujarat has the lowest Unemployment rate in India.
Gujarat has the highest Foreign Direct Investment in India.
Gujarat has the highest growth rate in India.
What are the major criticisms of the Gujarat government’s economic policies?
The major criticisms of the Gujarat government’s economic policies are the following:
The government has been accused of being pro-business and anti-labor.
The government has been accused of not doing enough to improve the lives of the poor.
The government has been accused of not doing enough to protect the Environment.
What are the major challenges facing the Gujarat economy in the future?
The major challenges facing the Gujarat economy in the future are the following:
The global economic slowdown.
The rise of protectionism.
The increasing competition from other emerging economies.
The need to improve infrastructure and education.
The need to address the issue of inequality.
What are the major opportunities for the Gujarat economy in the future?
The major opportunities for the Gujarat economy in the future are the following:
The rise of the middle class in India.
The increasing demand for Indian goods and services in the global market.
The potential for Gujarat to become a major hub for renewable energy and technology.
The potential for Gujarat to become a major tourist destination.
What is your overall assessment of the Gujarat economy?
The Gujarat economy is a vibrant and dynamic economy with a lot of potential for future growth. The government has done a good job of promoting economic growth, but there are still some challenges that need to be addressed.

Which of the following is not a major Industry in Gujarat?
(A) Agriculture
(B) Manufacturing
(C) Tourism
(D) IT
Gujarat is the largest producer of which of the following crops?
(A) Cotton
(B) Rice
(C) Wheat
(D) Sugarcane
The Gujarat International Finance Tec-City (GIFT City) is located in which of the following cities?
(A) Ahmedabad
(B) Gandhinagar
(C) Surat
(D) Vadodara
The Gujarat Refinery is located in which of the following cities?
(A) Vadinar
(B) Jamnagar
(C) Koyali
(D) Bharuch
The Tata Nano is manufactured in which of the following cities?
(A) Sanand
(B) Ankleshwar
(C) Bharuch
(D) Vadodara
The Gujarat State Road Transport Corporation (GSRTC) is headquartered in which of the following cities?
(A) Ahmedabad
(B) Gandhinagar
(C) Surat
(D) Vadodara
The Ahmedabad International Airport is located in which of the following cities?
(A) Ahmedabad
(B) Gandhinagar
(C) Surat
(D) Vadodara
The Sardar Vallabhbhai Patel International Airport is located in which of the following cities?
(A) Ahmedabad
(B) Gandhinagar
(C) Surat
(D) Vadodara
The Gujarat University is located in which of the following cities?
(A) Ahmedabad
(B) Gandhinagar
(C) Surat
(D) Vadodara
The Indian Institute of Technology Gandhinagar is located in which of the following cities?
(A) Ahmedabad
(B) Gandhinagar
(C) Surat
(D) Vadodara

Answers:
1. (D)
2. (A)
3. (A)
4. (B)
5. (A)
6. (A)
7. (A)
8. (B)
9. (A)
10. (B)