Aizawl: The Mizoram economy has experienced remarkable growth and structural transformation over the past decade, shifting from an agriculture-centric framework to a more diversified economy driven by the industry and tertiary sectors, according to the Mizoram Economic Survey 2024-2025.
Chief Minister Lalduhoma presented the Economic Survey in the assembly on Wednesday, which stated that the Gross State Domestic Product (GSDP) at current prices may rise from Rs. 30,690.33 crore in 2022-2023 to Rs. 35,575.54 crore in 2023-24, marking a growth of 15.92 percent over the previous year.
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The GSDP at constant (2011-12) prices has also seen sustained growth.
The economy, projected to grow at a rate of 11.6 percent, contributing to an overall annual economic growth rate of 9.89 percent during 2023-24.
This reflects the state’s strong recovery momentum and robust economic fundamentals.
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The survey attributes the economy’s transition to sustainable growth, inclusive development, and fiscal discipline, driven by robust economic reforms, infrastructure development, and strategic policy initiatives that promote resilience.
The tertiary or service sector remains the main driver of the state’s economy, contributing 46.87 percent to the Gross State Value Added (GSVA) at current prices.
The expansion of trade, tourism, financial services, and public administration may drive this sector’s growth by 8.17 percent during 2023-24.
The primary sector, including agriculture and allied activities, has shown steady growth due to advancements in agricultural practices, modern farming techniques, increased agricultural productivity, and rural development activities. It contributed 20.45 percent to the GSVA.
The industry’s contribution to the GSVA has risen from 31.23 percent in 2022-23 to 32.68 percent in 2023-24.
Additionally, the projected contributions of the primary, secondary, and tertiary sectors to the GSVA in 2024-25 are 20.55 percent, 34.21 percent, and 45.24 percent, respectively, the survey added.
The state’s per capita income for 2023-24 is expected to reach Rs. 2,46,287, up from Rs. 2,15,144 in 2022-23.