Goa Economic Survey 2014-15

The 30-month closure of mining operations has dented the Gross State Domestic Product (GSDP) bringing it down to 7.7 per cent during the financial year 2013-14, from 20.20 per cent in 2011-12, according to the Economic Survey 2014-15 tabled in the Goa Assembly on 24 March 2015. However, the 7.7 per cent growth in 2013-14 is higher compared to the 4.17 per cent growth recorded in the financial year 2012-13. This is largely due to rise in the primary sector output, which comprises agriculture, forestry and fishing to almost 13.50 per cent during 2013-14. Iron ore mining operations were halted in the State in September 2012 by the State government after the Shah Commission report was tabled in Parliament. Thereafter the MoEF had suspended Environment Clearances. The report exposed widespread illegalities and active connivance of supervisory agencies and politicians with the illegal ore trade to a tune of around Rs 35,000 crore as pointed out by the Shah Commission report. The growth of GSDP (at constant prices) has been fluctuating since 2006-07, when it was 10.02 per cent. The growth rate of GSDP at constant prices in 2008-09 and 2009-10 was almost stable at around 10 per cent. In the following two years, GSDP registered an upward trend and stood at 16.89 per cent in 2010-11 and 20.20 per cent in 2011-12, the report states. However, in 2012-13, the growth rate dipped to 4.17 per cent, mainly due to the rapid slowdown in the mining sector, which almost came to a standstill. As per the provisional estimates for 2013-14, the growth rate is 7.71 per cent, the report added. The Economic Survey reported that the growth rate in primary sector dropped substantially during the period 2011-12 to 2012-13, from -1.22 per cent to -39.89 per cent. Thereafter in 2013-14, the growth rate under the sector improved and stood at 9.86 per cent.

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