Ahmedabad, Feb 24: Indicating slowdown, Gujarat's Gross State Domestic Product (GSDP) grew by only 8.5 per cent in 2011-12 over the previous financial year, according to the Economic Review of the state released here on Saturday.
State's GSDP, an important single economic indicator, at constant (2004-05) prices (acknowledged by centre as base year) had grown by 10 per cent in 2010-11 and 11.2 per cent in 2009-10.
GSDP, one of the indicators of a state's economic performance, is calculated by either adding up everyone's income during the period or by adding the value of all final goods and services produced in the state during the year.
"The growth has slowed down over the previous years, which had witnessed an increase of 10 per cent in 2010-11 and 11.2 per cent in 2009-10," official sources said.
GSDP for 2011-12 has been estimated at Rs 3,98,884 crore as against Rs 3,67,540 crore in 2010-11, registering a growth of 8.5 per cent during the year, the Review said.
The growth in per capita net state domestic product (NSDP) in 2011/12 was 6.9 per cent over the previous year against 9.4 per cent increase in 2010-11 and 12.6 per cent in 2009-10.
The per capita income for 2011-12 at constant (2004-05) prices has been estimated at Rs 57,508 for 2011-12 as against Rs 53,789 in 2010-11, states the report.
The per capita NSDP is used to determine both the absolute and relative performance of the state economy as also to measure regional disparities.