In worrying signs for the State, the Comptroller and Auditor General of India has revealed that Goa’s Gross Domestic Product growth rate has declined from 14.39 per cent in 2016-17 to 1.31 per cent in 2020-21.
The CAG report was report presented in the State Legislative Assembly on Tuesday.
The State’s current year’s growth rate of 1.31 per cent was significantly lower than its growth rate of 9.95 per cent (2019-20). However, the State’s growth rate during 2020-21 was higher than the national GDP, states the CAG report.
The CAG report further points out that industrial sector is the primary driver of the State’s economy and its contribution to GSDP has increased by more than 4 per cent in the last 5 years.