Srinagar, March 13: While J&K’s overall GSDP growth during financial year 2021-22 has been 14.64 per cent (1st Revised), Agriculture Sector has grown by a modest 6.58%.
The Industrial Sector has grown by 8.59%, while the Services sector has grown by a handsome 18.69%.
According to Budget 2023-24, J&K economy is expected to grow at 10% and there has been significant growth in collections under GST, Excise and Stamp Duty.
The GST collection is Rs 6666.04 crore upto February, 2023; which has shown a growth of 14.64 percent over the same period of previous financial year 2021-22. The MST collection is Rs. 1444.45 crore upto ending February, 2023. The stamp collection is Rs. 438.88 crore upto February, 2023 against Rs 401.44 crore during the last financial year 2021-22; showing a growth of 9.33 percent. The excise collection has been Rs 1658.35 crore upto ending February, 2023 during current financial year 2022-23 against 1443.07 crore in the same period during the last financial year 2021-22; registering a growth of 14.92 %. The overall tax collection has shown significant growth and resilience.
Exports of dry & fresh fruits is picking up and by end of February, 2023 about 18.15 lakh metric tons have been exported.