There is reason to cheer as Gujarat seems to be coming back on the growth track. Gujarat's Gross State Domestic Product (GSDP) is estimated to have grown at close to 9% in the current year, the fastest in the last five years. Gujarat government's advance estimates peg the GSDP for 2017-18 at Rs 13.20 lakh crore at current prices, a growth of 14% over the previous year when the GSDP was estimated at Rs 11.58 crore. "With a reasonable growth rate and consistent interest rates in the national economy, the Advance Estimates for FY 2017-18 indicate that the state is poised to register a growth rate of 14.00% over 2016-17," the state government said in the budget documents. The state government does not share the GSDP figures in terms of constant prices. However, assuming an average inflation rate of 5% for the year, the GSDP has grown at 9% or thereabouts for 2017-18, the fastest rate since 2013-14. Last year, the GSDP had expanded by about 8%. Official statistics show that Gujarat's GSDP grew by 11.5% in 2013-14, 14.1% in 2014-15, and 11.2% in 2015-16. The average rate of inflation in each of these years was about 5 or 6%, which means real GSDP growth was anywhere from 6-7%. "Gujarat has consistently grown at a rate that has been higher than the national average. The State economy at current prices has recorded annualized growth rate of 16.99% for six years (2004-05 to 2010-11) as per the base year 2004-05, and at an annualized growth rate of 13.56% for last seven years (2011-12 to 2017-18) as per base year 2011-12," a senior official said.

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