An Introduction of Economy Of Uttarakhand

 

Uttarakhand economy mainly relies on tourism industry. Uttarakhand, being situated on the foothills of Himalayas, comprises of numerous hill stations which attract tourists from all across the globe thereby bringing money to the state. Apart from the hill stations, the wildlife have also been a major attraction for tourism as tourists come to visit the wildlife sanctuaries such as Corbett National Park and the famous Tiger Reserve.

The next most important contributor to the economy of Uttarakhand is the agricultural sector. As per the latest report net sown area is 74,1099 Hectare. Cereals, pulses, oilseeds, sugarcane and onion are the major crops growth here. Since majority of the population of Uttarakhand is occupied in agricultural sector, agriculture has to be among the top contributors of revenue in Uttarakhand economy.

Another important component on which the economy of Uttarakhand depends is its mineral resources. The state consists of large resources of minerals such as limestone rock phosphate, dolomite, magnesite, copper graphite, soap stone, gypsum and many others. Many of these minerals are exported out of India thereby fetching the Uttarakhand economy more revenue.

Uttarakhand economy also relies upon its small scale industries though they don’t offer high revenues. The state has 37,928 small scale units and 1,030 Gramodhyog Units. The beautiful state also has 2,344 factories that are earning a very good profit.

Another component that is spreading its wing in Uttarakhand and is about to add lots of revenue to the Uttarakhand economy is the real estate. With more and more real estate agents eyeing on the picturesque locations of Uttarakhand, the day is not far away when real estate would be one of the major forces in determining the net flow of economy of Uttarakhand. A ‘Money order economy also prevails in the region due to large-scale migration to the plains for jobs in the Armed Forces, Government or into the Private Sector.

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