Bihar’s growth rate continues to be fastest: Economic Survey

Patna,(BiharTimes): The average annual growth rate of Bihar has been 12% in the last seven financial years.

According to the state’s Economic Survey Report for 2013-14, which was tabled in the Assembly on Friday, “During 1990-91 to 2005-06, the state’s income at constant prices grew at an annual rate of 5.7%.” 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,” it said.

The state achieved good growth rate in the agriculture and allied sectors, healthcare and education.

The state’s per capita income was 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 Survey said.

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 own tax revenue receipts of Bihar 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.

The report has noted the rate of growth in agriculture sector has been 5-9% during 2006-13, compared to only 3% during 1999-2006.

Thje annual growth rate in industrial sector now stands at 17.1% after slumping to 9.5% in 2011-12.

Meanwhile, RJD leader, Ram Kripal Yadav, questioned the Economy Survey, and said that all these achievements are on the paper and on the ground there is nothing to be highlighted.