sources of income and types if bussiness if meghalaya
Answers
Explanation:
Meghalaya is located in the northeast of India. The state shares its border on the north and the east with Assam and on the south and the west with Bangladesh.
Meghalaya, with an average annual rainfall of 1,150 cm, receives the highest amount of rainfall in the country. The diverse range of soil types, including red-loamy and laterite, support various agricultural crops like rice, maize, pulses, oilseeds, cotton, jute, and mesta. The state has achieved success in the cultivation of non-traditional crops like tea, cashew nuts, oilseeds, tomato, mushroom, wheat, etc. During 2018-19^, the state produced 331.67 thousand tonnes of fruits and 74.26 thousand tonnes of spices.
At current prices, Gross State Domestic Product (GSDP) of Meghalaya reached Rs 0.93 trillion (US$ 5.47 billion) in 2019-20. State’s GSDP (in Rs) increased at a Compound Annual Growth Rate (CAGR) of 11.30 per cent between 2015-16 and 2019-20.
As of March 2020, Meghalaya had a total installed power generation capacity of 608.53 MW, comprising 354.53 MW from state utilities, 13.92 from private utilities, and 240.08 MW from central utilities. Of the total installed power generation capacity, 401.77 MW was contributed by hydropower, 160.31 MW by thermal power, and 46.45 MW by renewable power.
Meghalaya, with abundant deposits of coal, limestone, kaolin feldspar, quartz, granite, industrial clay and uranium, and a small deposit base of sillimanite, bauxite, base metals and apatite has a great industrial potential.
Meghalaya, one of the most picturesque states in the country, has two national parks and three wildlife sanctuaries. It offers many adventure tourism opportunities like mountaineering, rock climbing, hiking and trekking, water sports, etc.
Passenger traffic at Barapani airport reached 30,552 during 2019-20. Aircraft movement at the airport stood at 691 during the same period.
According to Department for Promotion of Industry and Internal Trade (DPIIT), cumulative Foreign Direct Investment (FDI) inflow in Meghalaya stood at US$ 122 million, during April 2000 and September 2019.
Total merchandise export from Meghalaya was around US$ 51.09 million in FY19. Merchandise export reached US$ 31.22 million during April-December 2019.
Key Sectors:
Turmeric produced in Meghalaya is considered to be one of the best in the world as it contains 7.5 per cent of curcumin.
As per State Budget 2019-20, of the two hydro projects under implementation, Lakroh SHP (1.5MW) and Ganol HEP (3x7.5 MW), Lakroh is complete and Ganol is expected to be commissioned by 2020.
The state also has tremendous potential for tourism. Number of tourists visiting Meghalaya increased from 839,363 in 2016 to 1,216,454 in 2018.
Limestone production in Meghalaya stood at 7.19 million tonnes in FY19.
^ - As per 3rd Advanced estimates