Saturday November 7, 02:49 AM

Source: Indian Express Finance

North's share largest in economy

By fe Bureaus
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.