North’s share largest in economy

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Posted: Saturday, Nov 07, 2009 at 2303 hrs IST
Updated: Saturday, Nov 07, 2009 at 2303 hrs IST

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Chandigarh: The northern region has emerged as the largest contributor to the GDP, at 27.5% in 2007-08, second edition of CII’s report on gross state domestic product reveals. However, the economic growth here has underperformed the national average. During 1999-2000 to 2007-08, the region clocked a compounded annual growth rate (CAGR) of 6.2% as against 6.5% nationally. Harpal Singh, chairman CII northern region, said the performance has been due to the secondary sector, driven to a large extent by growth in the construction sector. Construction is also the fastest growing sub sector with CAGR of 12.6% over 1999-2000 to 2007-08. The other growing sub sectors are — transport, storage & communication, banking & insurance, real estate, ownership of dwellings and business services.

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North’s share largest in economy

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