State’s fiscal health witnesses ups & downs due to various factors
2013 to 2018
STAFF REPORTER
GUWAHATI: The fiscal health of the State’s economy has been witnessing a few ups and downs owing to various factors. This was revealed in the recently published fiscal analysis of the State by the Finance Department which took the GSDP (Gross State Domestic Product) trend into account. The GSDP measures the value of economic activity within a country. Strictly defined, GSDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.
The GSDP growth rate was 11.70 % in fiscal 2013-14 and 22.80% in 2014-15. However, it slid to just 3% in 2015-16 as tax collections were not up to the mark. In 2016-17, the GSDP growth rate was 11.70% which rose to 24.07% in 2017-18.
At current prices, the GSDP over the last five years moved from Rs 1,59,460 crore in 2013-14 to Rs 2,78,710.1 crore in 2017-18. During 2015-16, it stood at Rs 2,01,064 crore. In 2016-17, the GSDP went up to Rs 2,24,641 crore; and it rose higher in 2017-18 to Rs 2,78,710.10 crore.