Dimapur: Nagaland became the first state in the Northeast to release the report on the district domestic product (DDP), aimed at addressing the inter-district economic disparity in the state and bringing about balanced regional development and realising the economic potential of each district.
Adviser to economics and statistics and IT and communication H Sethrongkyu Sangtam released the 1st report on the DDP of Nagaland at the one-day state-level workshop to promote user producer interface on gross state domestic product (GSDP) and district domestic product (DDP) at Capital Convention Centre in Kohima on Friday.
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In his address, Sangtam said the GSDP of Nagaland at present was estimated to be Rs 39,566 crore with a growth rate of 7.73%.
He said as per the report, Dimapur district has the largest economy with a GDDP value of Rs 5,43,611 lakh during 2019-20, while Longleng is the smallest with a value of Rs 62,112 lakh.
He also said Dimapur district has the highest per capita income with a value of Rs 1,54,002 while Mon district has the lowest per capita amongst the districts in the state with a value of Rs 77,738.
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Sangtam called upon the officers and staff to work diligently and usher the people to greater economic prosperity and social inclusivity.
Saying that GSDP is the most important indicator to know the level of development achieved by the economy, he said the GSDP estimate is used by the finance ministry for devolution of funds to the states.
He also said as per the Finance Commission’s recommendation, the state governments are allowed to borrow 3% of the estimated GSDP from financial institutions.
Chief secretary J Alam acknowledged the significant improvement in the quality of data being published by the economics and statistics department.
He said if the data is not properly projected and is understated or overstated due to inaccurate figures, it will have a negative impact and lead to grievances.
Highlighting the issue of regional disparity, Alam said the DDP would help dispel the wrong perceptions about the state.
Special invitee, additional director and head, national accounts division, Union ministry of statistics and programme implementation, Dr Prafulla Chandra Mishra said the DDP report will play a crucial role in local development.