Madhya Pradesh has rich mineral resources and has the largest reserves of diamond and copper in India. Besides, the state has significant reserves of coal, coal-bed methane, manganese and dolomite.
At current prices, the gross state domestic product (GSDP) of Madhya Pradesh for 2007-08 was US$ 35.4 billion. Between1999-2000 and 2007-08, the average annual GSDP growth was 9.5 per cent. The growth in GSDP is, primarily, been due to growth in mining and quarrying and the services sectors. The net state domestic product (NSDP) of Madhya Pradesh was about US$ 30.7 billion in 2007-08. The average NSDP growth rate between 1999-2000 and 2007-08, was about 8.8 per cent.
In 2007-08, at US$ 16.6 billion, the tertiary sector contributed 53.5 per cent to the GSDP at current prices. It was followed by the primary sector, contributing US$ 10.9 billion (35.1 per cent), and the secondary sector’s contributing US$ 3.5 billion (11.4 per cent). The tertiary sector has also been the fastest growing at 12.9 per cent from 1999-2000 to 2007-08; followed by the primary and secondary sectors.
The per capita GSDP of Madhya Pradesh increased almost 1.8 times from US$ 293 in 1999-2000 to US$ 519 in 2007-08. In 2007-08, the per capita GSDP grew at about 12 per cent over the previous year. Robust tertiary sector has helped Madhya Pradesh increase its average per capita GSDP by around 7.4 per cent between 1999-2000 and 2007-08.State Presentation (April 2010)
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