Maintaining continuous economy growth over the years with an impressive rate, Mizoram has registered a growth of 13.04 per cent in its Gross State Domestic Product (GSDP) during the fiscal 2018-2019, according to the Economic Survey 2019-2020.
The Economic Survey presented by chief minister Zoramthanga in the Assembly on Tuesday said the GSDP at current prices was estimated at Rs 22,240.57 crore in 2018-19 as against Rs 19,328.64 crore in 2017-18.
The GSDP is projected to grow during the current fiscal year at 12.25 per cent, the survey said.
The service sectors continue to have the highest contribution to the Gross State Value Added (GSVA) at 46 per cent followed by agriculture and allied sector, which contributed 28 per cent.
The industry sector contributed 26 per cent of the total GSVA.
The per capita income of the State for the fiscal 2018-2019 was projected at Rs 1,68,626 as against the previous year’s estimate of Rs 1,46,765.
According to the Economic Survey, the state’s flagship programme – Socio-Economic Development Policy (SEDP) Central programmes have substantially contributed to the State’s progress.
The State Government has taken several initiatives towards attaining its goals and the Mizoram Vision 2030 conceives development as a multi-dimensional process with integrated approach to social, economic and environmental goals thereby achieving high sustained economic growth with shared prosperity, the survey said.
The SEDP is a flagship programme of the ruling Mizo National Front (MNF), which aims at bringing sustainable development by accelerating progress in key sectors through exploration and judicious use of resources and maintaining equality and equity among the citizens.
It is expected that the government strategy for development of Mizoram and allocation of public resources would be mostly directed towards implementation of the SEDP with special focus on political and administrative reforms, social development and economic development of the State.