Nagaland’s current Gross State Domestic Product (GSDP) stands at Rs. 39,566.21 crore with a growth rate of 7.73%, a DIPR report said, quoting the Economics and Statistics department.
As per sector wise, the services sector contributes the largest share to the state economy with a whopping 63.57 %, followed by the Primary sector with 24.81% and secondary sector 11.61%, it said. The estimates of SDP are used by the Finance Commission for devolution of funds to the State. As per the Finance Commission recommendation, the state is allowed to borrow 3% of the GSDP estimates from the open market, it said.
The per capita income (PCI) of the state which indicates living standard of the people is derived from GSDP figures. PCI of Nagaland is Rs. 1,57,641 whereas All India PCI stands at Rs. 98374.
According to DIPR, a five member team of officials from Economics & Statistics department, led by director Neidilhou Keditsu attended the ‘Joint Discussion on Comparable Estimates of SDP’ for the year 2021-22 & 2022-23, at KL Bhavan, Delhi from April 8 to 10.