Karnataka's Economic Surge: Monsoon Spurs Growth

Karnataka forecasts economic growth bolstered by a favorable monsoon, particularly in agriculture, as highlighted in the state’s mid-year fiscal review. The state's GSDP grew by 10.2% in 2023-24, and policies aim to attract investments and drive employment, boosting industrial and service sectors.

Karnataka is poised for economic expansion, thanks to a favorable south-west monsoon, according to the state government. Released in the legislative assembly, the 'Mid-year Review of State Finances 2024-25' suggests an auspicious future for the state's agriculture sector.

The report highlights Karnataka's GSDP growth of 10.2% in 2023-24, indicating a sustained economic trajectory. The monsoon's impact on agriculture is expected to stimulate both supply and demand, enhancing the state's economic prospects.

Favorable government policies, infrastructure advancements, and incentives are set to lure investments, boosting employment and invigorating industrial and service sectors. The report also notes Karnataka's fiscal excellence, with a 13.8% rise in revenue receipts and significant contributions to national GST revenue.

(With inputs from agencies.)