Officials attribute the drop in income to the lockdown and work from Home situation in many industries. Though automobile sales are high, other Services have taken a hit. We hope to return to a positive Growth rate next year,
The highest growth rate of 23 per cent was registered during 2015-16 and 2016-17. From 2014-15 to 2015-16, the state saw a 20 per cent rise in income. Between 2016-17 and 2018-19 financial years, the growth rate was 23 and 19 per cent respectively.
The first signs of a declining trend in growth rate were seen between 2017 and 2018 when it stood at 8 per cent. Between the following fiscal years, the income growth rate fell below 1 per cent, eventually reaching a negative growth rate of 8 per cent in 2020-21.