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.In2008–09,thetertiarysectorcontributedthemosttoGSDP(US31.6 billion─55 percent), followed by the secondary sector (17billion─29percent),andtheprimarysector(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 US2,026.4millionworthofForeignDirectInvestmentforthefiscalyear2008–09,placingitatthethirdspotamongstatesinIndia.Attheendof2004,theunemploymentrateofKarnatakawas4.57Between2011−12and2017−18,theGSDPofthestategrewataCompoundAnnualGrowthRate(CAGR)of13.11percenttoreach12.69trillion(US196.88 billion) and the net state domestic product (NSDP) grew at a CAGR of 12.83 per cent to reach 11.45 trillion (US$177.68 billion).
A fiscal year in Karnataka begins on 1 April of the previous calendar year and ends on 31 March of the year with which it is numbered.
After Bengaluru Urban, Dakshina Kannada (Mangaluru) Hubli-Dharwad and Belagavi districts contribute the highest revenue to the state respectively.
Agriculture is the primary occupation of most of Karnataka's rural people. A total of 123,100 km2 of land is cultivated in Karnataka, constituting 64.60% of the total geographical area of the state. According to the 2001 census, farmers and agricultural labourers formed 56% of the workforce of Karnataka.
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