Chhattisgarh Economy not only covers the statistical part of economy but also the human development , Economy of Chhattisgarh has got a major shift in the recent decade with a great focus on secondary and tertiary sector. We have Bifurcated the Economy of Chhattisgarh into following topics for the systematic study for CGPCS Exam by our students.
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Faq’s on Economy of Chhattisgarh
What is the size and growth rate of Chhattisgarh’s economy?
Chhattisgarh’s Gross State Domestic Product (GSDP) for 2023-24 is estimated to be ₹5.09 lakh crore (US$64 billion). It has experienced a robust growth rate since its formation in 2000, driven by sectors like mining, agriculture, industry, and services.
What are the major sectors of Chhattisgarh’s economy?
The major sectors of Chhattisgarh’s economy are:
- Agriculture: Contributes significantly to employment and GSDP, with rice being the primary crop.
- Mining: Chhattisgarh is rich in mineral resources, particularly coal, iron ore, limestone, and bauxite, making mining a crucial sector.
- Industry: Primarily focused on steel, cement, and power generation due to the availability of raw materials.
- Services: Includes trade, transportation, communication, finance, and tourism, which is a growing sector.
What is the per capita income in Chhattisgarh?
The per capita income of Chhattisgarh is estimated to be ₹152,348 (US$1,900) in 2023-24.
What are the major challenges faced by Chhattisgarh’s economy?
Some of the major challenges include:
- Dependence on mining: The economy is heavily reliant on mining, making it vulnerable to fluctuations in global commodity prices.
- Agricultural issues: Agriculture faces challenges like low productivity, dependence on monsoon rains, and lack of irrigation facilities.
- Unemployment: Despite economic growth, unemployment remains a concern, especially among the youth and in rural areas.
- Infrastructure: The state needs further development of infrastructure, particularly in transport and power sectors, to sustain growth.
What are the government’s initiatives to boost the economy of Chhattisgarh?
The Chhattisgarh government has taken several initiatives, including:
- Industrial development: Promoting industrial growth through policies like the “Chhattisgarh Industrial Policy 2019-24,” which offers incentives to investors.
- Agricultural development: Focusing on improving agricultural productivity, promoting organic farming, and providing better irrigation facilities.
- Infrastructure development: Investing in roads, railways, airports, and power generation projects to improve connectivity and attract investment.
- Skill development: Launching skill development programs to train youth for employment opportunities in various sectors.
- Tourism promotion: Developing tourist circuits and promoting Chhattisgarh’s unique cultural heritage and natural beauty to boost tourism.
What are the prospects for future economic growth in Chhattisgarh?
Chhattisgarh has a promising future for economic growth due to its abundant natural resources, growing industrial sector, and potential for tourism development. However, addressing challenges like dependence on mining, agricultural issues, and unemployment will be crucial for sustained and inclusive growth.
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