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DIMAPUR — Nagaland’s current Gross State Domestic Product (GSDP) is INR 39,566.21 crore, reflecting a growth rate of 7.73 per cent.
Sector wise, the services sector contributes the largest share to the state economy with a whopping 63.57 per cent, followed by the Primary sector with 24.81 per cent and secondary sector with 11.61 per cent, according to the state Directorate of Economics and Statistics.
In a press release on Wednesday, the directorate informed that its five-member team led by director Neidilhou Keditsu, participated in the Joint Discussion on Comparable Estimates of State Domestic Product (SDP) for the years 2021-22 and 2022-23 at Khurshid Lal Bhavan in New Delhi from April 8 to the 10th..
It said the SDP estimates are used by the Finance Commission for allocation of funds to the states. According to recommendations from the Finance Commission, each state is permitted to borrow up to 3% of its GSDP from the open market, it added.
Further, the update said that the Per Capita Income (PCI) of Nagaland is INR 1,57,641 (approx. INR 1.57 lakh) against all-India PCI of INR 98,374. It added that the average income, which is derived from the GSDP figures, indicates the living standard of the people.