Euro area leaders have since launched the Banking Union, to be complemented over time with the Capital Markets Union, to deepen financial integration within the euro area. The Banking Union will help strengthen cross-border lending to households and companies within the euro area. The Capital Markets Union aims to strengthen integration of capital markets within the area.
Reflecting the divergence in sectoral growth trends, the contribution of agriculture to the gross state domestic product (GSDP) declined while that of industry and services sectors rose (Chart 4). It is noteworthy that the growth of industrial sector in the State has been significant despite the constraints of the terrain and topography.