J&K Contributes 0.8% To National GDP

(MENAFN- Kashmir Observer) Srinagar- Jammu and Kashmir is making a proportional contribution to the country's economy, with its share in the national Gross Domestic Product (GDP) standing at 0.8 per cent, according to the government data.

According to data, this aligns closely with J&K's population share of 0.98 per cent in the country.

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The report states that J&K's economic growth has been steady, with the tertiary sector contributing 61 per cent, followed by the secondary and primary sectors.

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For the financial year 2023-24, the Union Territory's Real Gross State Domestic Product (GSDP) is projected to grow by 7.41 per cent, with a Nominal GSDP estimated at Rs 2.46 lakh crore.

J&K's share in the national economy reflects its efforts to strengthen various economic sectors while addressing challenges such as inflation and fiscal deficits, according to the report.

Read Also India's GDP Growth Slows To 5.4% In Q2 2024-25 India's GDP Expands 7.8% In Q4, 8.2% In FY24

It adds,“The government is committed to improving revenue performance and reducing the debt-to-GSDP ratio, reflecting fiscal discipline and efficient management.”

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