Karnataka registers 10.2 per cent GSDP growth in 2023-24
Bengaluru: Karnataka has registered a robust GSDP growth of 10.2 per cent in 2023-24, the state government said on Monday. Citing a data from the Ministry of Statistics and Programme Implementation (MoSPI), the government said in a statement that the state has significantly surpassed the national average of 8.2 per cent.
"Initially, the National Statistical Estimate (NSE) had projected a modest 4 per cent GSDP growth for Karnataka, but this was revised to 13.1 per cent by the end of the fiscal year, indicating early underestimation of the state’s economic performance," the statement read.
The government pointed out that this feat was achieved despite severe challenges, including the worst drought in a decade and a slowdown in global IT markets. The state’s agriculture sector faced negative growth due to drought conditions, while Karnataka’s dependence on the IT and hardware sectors—accounting for 28 per cent of its Gross State Value Added (GSVA)—made it vulnerable to global economic downturns, according to the statement.
The Indian IT industry’s growth, which slowed from 15.5 per cent in FY 2022 to 8 per cent in FY 2023, reflected global recessionary fears and inflation. For FY 2024-25, the NSE forecasts Karnataka’s GSDP to grow at 9.4 per cent, slightly below the national average projection of 10.5 per cent, the statement said.
However, the Ministry of Finance projects a more optimistic 14 per cent growth for the state, supported by strong fiscal indicators, it added. "As of September 2024, Karnataka recorded a 10 per cent year-on-year increase in GST collections and a 24 per cent surge in stamp duty revenue, signaling a healthy economic trajectory," the government said.
Karnataka’s per capita GSDP remains among the highest in the country, on par with Telangana, reflecting the strength of Congress-led governance in both states, the statement said. The state government gave credit to its pro-people policies, including its five guarantees, saying they have ensured that the benefits of growth reach all sections of society.
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Ishan Kishan returns, Ruturaj Gaikwad named captain of India A team for Australia tour
New Delhi, Oct 21: Ishan Kishan returned to the national set-up as he was on Monday named in a 15-member India A squad, to be led by Ruturaj Gaikwad, for the upcoming tour of Australia.
Fresh from his fine hundred against Mumbai in the Ranji Trophy, Maharashtra's Gaikwad was named captain of the India A team.
India A will play two first-class matches against Australia A in Mackay and Melbourne and then take part in a three-day intra-squad game against the senior India team in Perth.
Apart from Gaikwad, the squad also includes other opening batters like Abhimanyu Easwaran and Sai Sudharsan, as India will likely need to name a reserve opener in their Test squad for the upcoming tour of Australia, with captain Rohit Sharma set to miss one of the first two matches of the Border-Gavaskar Trophy for personal reasons.
Kishan, who was dropped from the BCCI central contracts earlier this year due to concerns that he was "prioritising" the cash-rich Indian Premier League over domestic cricket, made his return to the India A setup.
Kishan was last part of the India squad during the tour of South Africa in 2023, which he had left midway.
The batter had reportedly taken a personal break which did not go down well with the BCCI.
After the player decided to skip the domestic competitions in the run-up to the IPL, the BCCI dropped him from the central contract.
India A squad for the tour of Australia: Ruturaj Gaikwad (capt), Abhimanyu Easwaran (vice-captain), Sai Sudharsan, Nitish Kumar Reddy, Devdutt Padikkal, Ricky Bhui, Baba Indrajith, Ishan Kishan (WK), Abishek Porel (WK), Mukesh Kumar, Khaleel Ahmed, Yash Dayal, Navdeep Saini, Manav Suthar, Tanush Kotian.
