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Share to GSDP stagnant at 24-25% for past 10 years Industrial growth declined during NC regime 3/26/2015 12:50:05 AM Arun Singh Early Times Report Jammu, Mar 25: Notwithstanding the tall claims of previous National Conference led coalition government of strengthening the state's industrial sector the industrial growth is constantly on decline and fell to its lowest during Omar Abdullah's regime. The Economic Survey 2014-15 released by the Jammu and Kashmir government recently says the growth in industry sector is showing fluctuating trend but overall is on decline. The industrial sector of the state after touching the high growth rate figure of 9.77% during 2006-07, declined in 2008-09, fell to its lowest during 2010-11 (-2.58%), increased to 7.98% during 2012-13, and scaled down to only 1.47% as per advance estimates for 2014-15. Report further says that the state is also behind rest of the country on industrial front. The share of Industry to Gross State Domestic Product (GSDP) is stagnant at 24-25%. While studying the trend for last 10 years, it came to fore that it revolves between 29% highest in 2007-08 and around 24% in 2011-12. During the period 2007-08 to 2014-15, the share of industry has decelerated by about 4%. Survey report says that although the number of Small Scale Industrial units in the State has gone up but there are cases of sickness of units with some of them having become non-functional and others simply untraceable due to a number of reasons like financial crunch, law and order problem, marketing problem, non-availability of raw material and migration. The comparisons of functional units thrown out by industrial census 2001-02 and 2006-07 are indicated as the total units surveyed during Census 2001-02 were 37334, Functional Units 14625 and Closed/ untraceable Units 22709 while as per Census 2006-07 (quick estimates) total number of units surveyed were 20359, Functional Units found 14534 and Closed/ untraceable Units 5825.   Share This News with Your Friends on Social Network     Comment on this Story

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