Economic Survey 1996-97 (Karnataka)

Abstract

From Economic Situation: The overall performance of the State's economy is good during the current year. It is anticipated that growth in Gross Domestic Product (GDP) in 1996-97 will be 5.8 per cent against 5.6% in 1995-96. Performance in industry has been encouraging at 8.7 per cent in 96-97 despite sluggish capital markets, stagnation in foreign investment and increased domestic and external competition. The agricultural sector also did well with a growth in GDP of 3.6%. In wholesale prices, in the first 7 months of the current year, the All Commodities Index (agricultural commodities only) increased from 360 in March 96 to 392 by October 1996, (an increase of 8.89 per cent) compared to a fall of 1.07 per cent during the same period of 1995-96.