Bihar's average annual growth rate has been 12% in the last seven fiscal years, one of the highest among all Indian states, on the back of high growth rate achieved in the agriculture and allied sectors. Besides, advancement has also been made in healthcare and education.
The state's Economic Survey Report for 2013-14, which was tabled in the assembly on Friday, has concluded this. The summary of the report said, "During 1990-91 to 2005-06, the state's income at constant prices grew at an annual rate of 5.7%." It said after that the economy witnessed a turnaround and grew at an annual rate of 12%. "The rate of growth achieved by the economy during 2006-13 is not only much higher, but also one of the highest among all Indian states."
The report has taken 1999-2006 as the cut-off period to highlight spectacular Bihar turnaround story achieved under CM Nitish Kumar.
With the state's per capita income at Rs 30,930 in 2012-13, the "ratio of state's per capita income to all-India figure increased to 41.18 % in 2012-13, from over 37.18 % in 2011-12, thus narrowing the gap in a big way", the report said.
Matching with the overall boost in the economy, the tax revenue of the state increased substantially from Rs 23,865 crore in 2008-09 to Rs 48,153 crore in 2012-13. Besides, the state's own tax revenue receipts increased from 6,172 crore to Rs 16,253 crore during the same period. The growth in per capita expenditure on social services has been from Rs 1,263 in 2008-09 to Rs 2,172 in 2012-13.
Maintaining that 90% people still directly or indirectly depend on agriculture and allied activities, the report has noted the rate of growth in this sector has been 5-9% during 2006-13, compared to only 3% during 1999-2006.
Further, while agriculture road map provided the broad strategic approach for achieving growth in the agriculture and allied sectors, paddy productivity reached 200kg/hectare in recent years.
The industrial sector is on its recovery path, as its annual growth rate now stands at 17.1% after slumping to 9.5% in 2011-12.
source :TOI
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