Promising Economic Growth for Karnataka Amid Favorable Monsoons

Karnataka's economy is predicted to grow, driven by favorable monsoons and government initiatives. The state's GSDP rose 10.2% in 2023-24, with agriculture leading the way. Policies promoting infrastructure and attracting businesses boost economic prospects, while state fiscal performance and GST revenue show significant growth.

Karnataka is anticipating a positive economic trajectory thanks to favorable south-west monsoon conditions, according to the state government's mid-year finances review tabled in the assembly.

The report highlights a notable 10.2% GSDP growth for 2023-24, with agriculture playing a key role in the positive economic outlook, supported by strategic governance policies.

Karnataka ranks second in national GST revenue contributions, achieving an impressive 11% growth in the first half of 2024-25, underlining robust economic health and substantial government revenue performance.

(With inputs from agencies.)