Mizoram registers 12% GSDP growth in 2021-22 fiscal year

The share of agriculture, forestry, and fishing has steadily increased over the years, from 20.12 percent in 2011–12 to 24.83 percent in 2021–22

Mizoram registered a growth of 12 per cent in 2021-22, the economic survey tabled in the Assembly said.
Tabling the economic survey, Chief Minister Zoramthanga said that the Mizoram economy has witnessed 12.18 percent growth during the 2021–2022 fiscal year as compared to the previous financial year.

The GSDP at constant prices (2011–12) is expected to attain an amount of Rs 19,036.83 crores in 2021–22, compared with an estimate of Rs 16,969.85 crores for the year 2020–21, showing a growth of about 12.18 percent over the previous year.

“Whereas, the GSDP at current prices registered an increase of 15.25 percent over the previous year,” it said.

The GSDP at current prices is estimated at Rs. 28,480.10 crores in 2021–22, as against Rs. 24,712.26 crores in 2020–21.

The GSVA at constant (2011–12) prices has clocked a 9.43 percent average annual growth rate during financial years 2011–12 to 2021–22, the economic survey said.

The service sector contributed the lion’s share of the GSVA at 50.08 percent, followed by the industry sector at 25.09 percent, and the primary sector, comprising agriculture and allied activities, contributed 24.83 percent to the GSVA.

“The remarkable contribution of the tertiary or service sector, constituting a share of about 50.08 percent of the total GSVA, clearly indicates that this sector drives the economy of Mizoram,” the Economic Survey said.

With more than half of the state’s population deriving the majority of their income from agriculture, faster growth in this sector is necessary to increase their income, it said.

The share of agriculture, forestry, and fishing has steadily increased over the years, from 20.12 percent in 2011–12 to 24.83 percent in 2021–22.

In 2020-21, the primary sector contributed 25.93%, the industrial sector contributed 26%, and the tertiary sector contributed 48% to the GSVA.

According to the new economic survey, the per capita income of the state for fiscal 2021-22 is projected at Rs 1,75,896 as against the previous year’s estimate of Rs 1,79,503.

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