PANAJI:  The Economic Survey 2009-10 underlines that the state economy is evenly poised and Goa holds tremendous potential to be one of the leading states in the country aiming for achieving higher standards of socio-economic development.

According to the survey, the Gross State Domestic Product at constant prices has registered a compound annual growth rate of 7.5 per cent during the period 1999-2000 to 2008-09, and 10.7 per cent during the first two years of the Eleventh Plan 2006-07 to 2008-09 which is higher than the national target of 9 per cent fixed by the Planning Commission for the Eleventh Five Year Plan period.
However, the state target for the Eleventh Plan period is 12.1 per cent.
The annual growth rate of GSDP in 2008-09 is 7.2 per cent, which is above the corresponding national growth rate of 6.7 per cent. The per capita GSDP at constant prices in 2008-09 is Rs 75,033 showing a compound annual growth rate of 7.1 per cent during the first two years of the Eleventh Plan period.
Significantly at the current price, the GSDP has registered a compound annual growth rate of 13.5 per cent during the period 1999-2000 to 2008-09, and 13.8 per cent during the first two years of the Eleventh Plan 2006-07 to 2008-09.
The annual growth rate in 2008-09 is 12.9 per cent. The per capita GSDP at current prices in 2008-09 is Rs 1,21,842 showing a compound annual growth rate of 10.1 per cent during the first two years of the Eleventh Plan period.
The Net State Domestic Product  at constant prices has registered a compound annual growth rate of 7.4 per cent during the period 1999-2000 to 2008-09, and 11.6 per cent during the first two years of the Eleventh Plan 2006-07 to 2008-09. The annual growth rate in 2008-09 is 8.4 per cent. The per capita NSDP at constant prices in 2008-09 is Rs 65,264 showing a compound annual growth rate of 7.9 per cent during the first two years of the Eleventh Plan period.
But what is distressing for the state economy is the decline in contribution of the primary sector of the economy. The share of primary sector in the GSDP has declined from 16.44 per cent in 1999-2000 to 13.24 per cent in 2006-07 and to 10.61 per cent in 2008-09. It has registered a negative annual growth rate of 1.57 per cent in 2008-09 and a compound annual growth rate of 0.90 per cent during the first two years of the Eleventh Plan 2006-07 to 2008-09.
Yet another area of concern has been the decline in fish production since 2006. The year 2005 witnessed an increase of 20.8 per cent in fish catch, however, the subsequent two years saw a negative growth of around 6 per cent.  Total fish catch (marine and inland) has declined from 107281 tonnes in 2005 to 91849 tonnes in 2008. 
Contribution from mining and quarrying is mainly from iron ore mining. Share of value addition from this sector in the state income at present is around 4 per cent. On account of continuous exploitation, the iron ore stock in the state is depleting and so also its production which has remained almost static for many years. This sector has registered an annual growth of 4.7 per cent in 2008-09 in terms of GSDP at constant prices.
However, the survey claims growth in industrial sector. State has around 7322 small scale industrial units and 209 large scale industries in the organized sector. Value addition from this sector has increased from Rs 3294.85 crore in 2005-06 to Rs 4400.23 crore in 2008-09 at constant prices. The services sector continues to be the mainstay of economy of the state and tourism is key contributor. The services sector has registered annual compound growth rate of 14.48 per cent during the period 2006-07 to 2008-09 at constant prices and an annual growth rate of 7.6 per cent in 2008-09.
The total number of SSI units is 7322 as on December 31, 2009 with an investment of about Rs 111.35 crore providing employment to 3981 persons. The number of large and medium scale industries is 209 with a total investment and employment of Rs 1784.40 crore and 4375 persons respectively.