Concept

Economy of Karnataka

Summary
Karnataka is one of the highest economic growth states in India with an expected GSDP (Gross State Domestic Product) growth of 9.5% in the 2021–22 fiscal year. The total expected GSDP of Karnataka in 2022–2023 is about 240billion.KarnatakarecordedthehighestgrowthratesintermsofGDPandpercapitaGDPinthelastdecadecomparedtootherstates.In200809,thetertiarysectorcontributedthemosttoGSDP(US240 billion. Karnataka recorded the highest growth rates in terms of GDP and per capita GDP in the last decade compared to other states. In 2008–09, the tertiary sector contributed the most to GSDP (US31.6 billion─55 percent), followed by the secondary sector (17billion29percent),andtheprimarysector(US17 billion─29 percent), and the primary sector (US9.5 billion─16 percent). With an overall GDP growth of 56.2% and a per capita GDP growth of 43.9% in the last decade, Karnataka surpassed all other states in India, pushing Karnataka's per capita income in Indian Rupee terms to sixth place. Karnataka received US$2,026.4 million worth of Foreign Direct Investment for the fiscal year 2008–09, placing it at the third spot among states in India. At the end of 2004, the unemployment rate of Karnat
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