Karnataka State Income & Inflation Analysis
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Which of the following states border Karnataka to the east?

  • Maharashtra and Goa
  • Andhra Pradesh and Telangana (correct)
  • Tamil Nadu and Kerala
  • None of the above

    • Which of the following options accurately describes the state of Karnataka's urbanization over the past decade? (Select all that apply)

  • The state has witnessed a decrease of 4.68% in the proportion of urban population.
  • Karnataka has a larger proportion of its population living in urban areas compared to the national average. (correct)
  • Karnataka has experienced a steady increase in urbanization with an increase of 4.68% in the proportion of urban population. (correct)
  • The state's rural population has been declining in recent years.

    • Gross State Domestic Product (GSDP) is a key indicator that helps measure economic growth within a state.

    True (A)

    In the fiscal year 2023-24, what is the projected growth rate of GSDP in Karnataka at constant (2011-12) prices?

    <p>6.6% (A)</p> Signup and view all the answers

    What is the expected GSDP of Karnataka in the fiscal year 2023-24 at current prices?

    <p>Rs. 25,00,733 crore</p> Signup and view all the answers

    The GSDP of Karnataka is anticipated to grow at a faster rate in 2023-24 than the national GDP at constant (2011-12) prices.

    <p>False (B)</p> Signup and view all the answers

    Which of these sectors is projected to have the highest growth rate in Karnataka in 2023-24 at constant (2011-12) prices?

    <p>Services (C)</p> Signup and view all the answers

    The growth rate of Karnataka's GSDP at current prices has always been higher than the all-India growth rate in recent years.

    <p>False (B)</p> Signup and view all the answers

    Which sector is expected to see the lowest growth rate in 2023-24 at constant (2011-12) prices based on the Advance Estimates?

    <p>Crops (A)</p> Signup and view all the answers

    Which of these options accurately reflects the anticipated growth of Karnataka's GSDP at constant (2011-12) prices in 2023-24?

    <p>6.6% (D)</p> Signup and view all the answers

    Which of these sectors has the highest contribution to GSDP in 2023-24 at current prices?

    <p>Real estate, professional services &amp; ownership of dwellings (A)</p> Signup and view all the answers

    What is the anticipated percentage of GDP contribution by Karnataka for the fiscal year 2023-24?

    <p>8.4%</p> Signup and view all the answers

    What is the difference between GSDP and NSDP? Explain briefly.

    <p>Net State Domestic Product (NSDP) is calculated by subtracting the Consumption of Fixed Capital (CFC) or Depreciation from Gross State Domestic Product (GSDP).</p> Signup and view all the answers

    During 2023-24, which of the following sectors is expected to have the highest growth rate of NSVA at current prices?

    <p>Services (C)</p> Signup and view all the answers

    At constant (2011-12) prices, what is the projected NSDP of Karnataka in the fiscal year 2023-24?

    <p>Rs. 12,63,925 crore</p> Signup and view all the answers

    The NSDP of Karnataka is anticipated to grow lower than the GSDP at current prices in 2023-24.

    <p>True (A)</p> Signup and view all the answers

    In the year 2023-24 at constant (2011-12) prices, which of the following sectors is anticipated to have the lowest NSVA growth rate?

    <p>Agriculture &amp; Allied Activities (A)</p> Signup and view all the answers

    The projected per capita income of Karnataka in 2023-24 is higher than the all-India per capita income.

    <p>True (A)</p> Signup and view all the answers

    What is the estimated per capita income of Karnataka in 2023-24?

    <p>Rs. 3,32,926</p> Signup and view all the answers

    Which state has the highest per capita income in India based on the data for 2022-23?

    <p>Delhi</p> Signup and view all the answers

    What is the rank of Karnataka in terms of per capita income among selected states in India for 2022-23?

    <p>3rd</p> Signup and view all the answers

    The district domestic product estimates for 2022-23 are readily available for all sectors, including Primary, Secondary and Tertiary sectors.

    <p>False (B)</p> Signup and view all the answers

    Which district contributes the highest percentage to GSDP in Karnataka for the year 2022-23 based on current prices?

    <p>Bengaluru Urban (A)</p> Signup and view all the answers

    What is the per capita income of Bengaluru Urban District in 2022-23?

    <p>Rs. 760,362</p> Signup and view all the answers

    According to the data for 2022-23, what is the district with the lowest per capita income?

    <p>Kodagu</p> Signup and view all the answers

    The level of inter-district variation in Karnataka is higher when Bengaluru Urban District is excluded from the calculation.

    <p>False (B)</p> Signup and view all the answers

    A low coefficient of variation in the Gross District Domestic Product signifies a high level of economic disparity between districts.

    <p>False (B)</p> Signup and view all the answers

    Which revenue region in Karnataka is seen to have the lowest per capita income based on the data for 2022-23?

    <p>Kalaburagi Region (C)</p> Signup and view all the answers

    What are the two main inflation indices commonly used in India?

    <p>Wholesale Price Index (WPI) and the Consumer Price Index (CPI).</p> Signup and view all the answers

    During which period does the All India Wholesale Price Index (WPI) show an increase in its inflation rate in 2023-24 based on the data collected by the Indian government?

    <p>April-November (B)</p> Signup and view all the answers

    Based on the data for the month of November 2023, what is the annual inflation rate based on the All India Wholesale Price Index?

    <p>0.26% (A)</p> Signup and view all the answers

    What is the base year for the Wholesale Price Index in India?

    <p>2011-12</p> Signup and view all the answers

    The Wholesale Price Index (WPI) in India only includes commodities and does not cover services.

    <p>True (A)</p> Signup and view all the answers

    Which of the following is used as a primary source of data for constructing the Wholesale Price Index for 33 Agricultural Commodities in Karnataka?

    <p>All of the above (D)</p> Signup and view all the answers

    The Consumer Price Index (CPI) measures changes in the retail prices of goods and services.

    <p>True (A)</p> Signup and view all the answers

    Which of the following is the main target group for the Consumer Price Index for Industrial Workers (CPI-IW)?

    <p>Workers in factories, mines, plantations, and transportation (C)</p> Signup and view all the answers

    What is the base year for the Consumer Price Index for Industrial Workers (CPI-IW) in India, as of September 2020?

    <p>2016</p> Signup and view all the answers

    The Consumer Price Index for Agricultural Labourers (CPI-AL) is constructed and released by the Labour Bureau, Shimla.

    <p>True (A)</p> Signup and view all the answers

    The Rural Retail Price Index (RRPI) in Karnataka is based on prices collected from 32 selected urban centers.

    <p>False (B)</p> Signup and view all the answers

    What is the primary goal of the Karnataka government's economic strategy for the future based on the information provided?

    <p>To achieve a $1 trillion GDP by implementing strategies envisaged in the SDG 2030 and $1 trillion vision document (D)</p> Signup and view all the answers

    The Karnataka government has established a dedicated committee to review and recommend measures regarding GSDP estimation.

    <p>True (A)</p> Signup and view all the answers

    Study Notes

    Karnataka State Income, Prices & Inflation

    • Karnataka is a diverse state in southern India, with a population of 610,95,297 (5.05% of India's population) and an area of 1,91,791 sq. km (5.83% of India's area).
    • Karnataka's urbanization rate has increased by 4.68% in the last decade, with 38.67% of the population living in urban areas.
    • GSDP (Gross State Domestic Product) is the key indicator of economic growth in the state.
    • GSDP for 2023-24 is estimated at Rs. 25,00,733 crore (current prices), projected to grow at 10.2%.
    • In constant (2011-12) prices, GSDP is estimated at Rs. 14,23,229 crore, with a projected growth of 6.6%.
    • Karnataka's GSDP share of India's GDP is 8.4% in 2023-2024.
    • In 2023-24, Karnataka's GSDP is expected to grow at 6.6%, whereas India's GDP is expected to grow at 7.3% (constant 2011-12 prices).
    • GSDP growth rate at current prices has been consistently higher than India's growth rate across the analysis period except for 2017-18, 2022-2023, and 2023-2024.

    Gross State Domestic Product (GSDP)

    • GSDP is the total value of goods and services produced within a state’s boundaries in a given period.
    • GSDP data is used in state planning and development.
    • GSDP and its per capita variations across districts are analyzed to measure the state’s economic standing and growth.
    • Factors of production like Agriculture, Industry, and Services contribute to the GSDP.

    Comparison of Karnataka's GSDP and India's GDP

    • In 2023-24, Karnataka's GSDP growth is anticipated to be lower than India’s GDP growth rate at constant prices.
    • But at current prices, Karnataka's growth is higher than India's.
    • Historical data of GSDP growth rates is presented in tables to show the difference between Karnataka's and India's rates across the years.

    Sectoral Composition of GSDP

    • Agriculture's contribution (2023-24) to GSDP is 13.04% compared to 13.66% in the previous year.
    • Industry's contribution (2023-24) is 20.24% compared to 20.92% in the previous year.
    • Services, with 66.72% in 2023-24, is the largest contributor compared to 65.41% in the previous year (2022-23).
    • Real estate, professional services, and ownership of dwellings saw the highest contribution to GSDP.

    Per Capita Income

    • Karnataka's per capita income is calculated by dividing the state's NSDP (Net State Domestic Produce) by the state population.
    • Projected per capita income (2023-24) is higher than the All India per capita income, with growth in 2023-24 at 9.3%
    • Data and trends of per capita income are presented for comparison.

    Price Inflation Analysis(WPI and CPI)

    • Wholesale Price Index (WPI) reflects bulk commodity prices.
    • Consumer Price Index (CPI) reflects retail prices of goods and services for specific populations.
    • WPI and CPI growth rate data is given for 2022-2023 and 2023-2024 to analyze price trends
    • Wholesale and Retail Price indices are analyzed to understand price trends and variations.

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    Karnataka Economic Survey 2023-24 PDF

    Description

    Explore the economic trends, urbanization, and GSDP statistics of Karnataka for the year 2023-24. This quiz delves into the state's growth indicators, comparing them with national averages and examining the implications of inflation and pricing. Test your knowledge on Karnataka's economic landscape.

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