Economy
The chart below displays the trend of the gross state domestic product of Arunachal Pradesh at market prices estimated by the Ministry of Statistics and Programme Implementation with figures in millions of Indian Rupees.
| Year | Gross Domestic Product |
|---|---|
| 1980 | 1,070 |
| 1985 | 2,690 |
| 1990 | 5,080 |
| 1995 | 11,840 |
| 2000 | 17,830 |
Arunachal Pradesh's gross state domestic product for 2004 was estimated at $706 million in current prices. Agriculture primarily drives the economy. Jhum, the local word for a shifting cultivation widely practiced among the tribal groups, is now less practiced. Arunachal Pradesh has close to 61,000 square kilometers of forests, and forest products are the next most significant sector of the economy. Among the crops grown here are rice, maize, millet, wheat, pulses, sugarcane, ginger, and oilseeds. Arunachal is also ideal for horticulture and fruit orchards. Its major industries are rice mills, fruit preservation units, and handloom handicrafts. Sawmills and plywood trades are prohibited under law.
Arunachal Pradesh accounts for a large percentage of India's untapped hydroelectric power production potential. In 2008, the state government of Arunachal Pradesh signed deals with various Indian companies planning some 42 hydroelectric schemes that will produce electricity in excess of 27,000 MW. Construction of the Upper Siang Hydroelectric Project, which is expected to generate between 10,000 to 12,000 MW, began in April 2009.
Read more about this topic: Arunachal Pradesh
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)